auditors and clients, sitting in a tree, k-i-s-s-i-n-g
Hmmm. Perhaps auditors might have been useful in this situation: But state regulatory filings offer a different picture. They show that A.I.G.’s individual insurance companies have been doing an unusual volume of business with each other for many years — investing in each other’s stocks; borrowing from each other’s investment portfolios; and guaranteeing each other’s [...]
the $700K studio apartment?
“…James Tate, 44, who, along with his wife, Valisa, 39, paid $695,000 for a 1,100-square-foot studio.” via Renters to the Rescue – NYTimes.com. I’m sorry, but as someone who just relocated from New York to Florida I find statements like this to serve as a complete affirmation of my decision. That $695,000 studio that couple [...]
More than 50% borrow money for college
Borrowing has gone from being the exception for undergraduates in 1993, at only 32 percent, to the rule. As of 2008, more than 50 percent of students at public four-year universities borrowed for their education. In for-profit education, the percentage of borrowers went to 92 percent in 2008 from 53 percent in 1993. via Study: [...]
The Great American Bubble Machine
Matt Taibbi on how Goldman Sachs has engineered every major market manipulation since the Great Depression: The Great American Bubble Machine : Rolling Stone. Absolutely brilliant. It’s hard to understand why more people don’t get it – the problem is not whether the Democrats or Republicans are in charge of the government. The problem is [...]
public hatred of failed institutions
A fascinating observation about economics from – of all places – a movie review… Banks made for easy targets, logistically and otherwise, and, as the writer Bryan Burrough points out in a book about America’s inaugural war on crime, these outlaws took advantage of the public’s hatred of those recently failed institutions. via Movie Review [...]
the six figure entrepreneur
Bam! This is how you start an article: “Desperate for a job? How does CEO with a six-figure salary and flexible hours sound?” Recession turns many laid off workers into entrepreneurs – Jun. 23, 2009
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