Treasury’s Geithner Urges End to Fannie, Freddie ‘Ambiguity’ (Bloomberg)
“Private gains can no longer be supported by the umbrella of public protection, capital standards must be higher and excessive risk-taking must be appropriately restrained,” Geithner said in testimony prepared for the House Financial Services Committee.
Buffett May Pursue Liquor Distributors After Purchase of Empire's Parent (Bloomberg)
Have some Schnapps with your Oreo Blizzard.
Broke? Buy a few warships, France tells Greece (Reuters)
"No one is saying 'Buy our warships or we won't bail you out', but the clear implication is that they will be more supportive if we do what they want on the armaments front," said an adviser to Prime Minister George Papandreou, speaking on condition of anonymity because of the diplomatic sensitivity.
NY is newest Madoff victim (NYP)
Bernie Madoff is number 68 on the list of deadbeats who owe Albany tax money ($984,280 to be exact). Number one is former Scores strip club owner Irving Bilzinsky, who owes $15.3 million.
Taxi Scheme Might Be Smaller Than Commission First Thought (NYT)
After announcing that tens of thousands of cabbies had cheated passengers by improperly flipping on an out-of-town meter rate, the chairman of the Taxi and Limousine Commission said on Monday that “a fairly significant number” of the incidents resulted in no additional charges, suggesting they might have been simple mistakes. “We have been vindicated,” said Bhairavi Desai, the executive director of the New York Taxi Workers Alliance, a drivers’ group.
'Enormous' adviser fees spark warning (FT)
The "enormous" fees paid to investment banks for advising companies on deals might be skewing the outcome of take-overs, the UK's leading group of institutional shareholders has warned. The Association of British Insurers said companies and regulators needed to take a close look at the advisory arrangements. The fees were a "deadweight cost" on shareholders that could swallow a significant part of savings derived from mergers and acquisitions, it said.
How Much Money Is Your Dead Body Worth? (CNBC)
An "intact" head will score you $6,000. That kidney will go for $300-$500.