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Write-Offs: 01.26.10

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$$$ New York Fed Defends AIG Rescue [WSJ]
$$$ Scott Patterson's The Quants: "The quants did their best to contain the damage, but they were like firefighters trying to douse a raging inferno with gasoline--the more they tried to fight the flames by selling, the worse the selling became. Quant funds everywhere were scrambling to figure out what was going on." [WSJ]
$$$Roubini Supports Bernanke Reappointment [Bloomberg]
$$$ Fear The Boom And Bust [YouTube]