I'm surprised the Seattle Chick hasn't ...

Dave W · October 08, 2008, 09:53:55 AM

John, maybe this will make you feel better: Lehman CEO gets punched out

And maybe you'll appreciate the irony of this video (it's about 6 months old but even funnier now).

uwe · October 09, 2008, 03:54:31 AM

Bittersweet.

PhilT · October 09, 2008, 05:55:07 AM

I still have Galbraith's "The Great Crash - 1929" from my college days economic history course, so last night I decided to revisit it. By the end of the first chapter I'm starting to feel sick. What is that quote? "Those who cannot remember the past are condemned to repeat it."

gweimer · October 09, 2008, 09:22:59 AM

Quote from: PhilT on October 09, 2008, 05:55:07 AM
I still have Galbraith's "The Great Crash - 1929" from my college days economic history course, so last night I decided to revisit it. By the end of the first chapter I'm starting to feel sick. What is that quote? "Those who cannot remember the past are condemned to repeat it."

True, but even some of the analysts are puzzled by some of the contradictions in today's situation. I guess that, although the market saw a big drop on Monday, the dollar actually got stronger in the international markets. Unemployment is lower? We could be at the edge of the next drop-off, but only time will tell. Right now, I'm happy to be employed with good benefits.

PhilT · October 09, 2008, 10:45:33 AM

There's a short piece in todays Daily Telegraph about someone who borrowed GBP400K from a UK bank and put 300K in IceSave. So he makes money on the interest differential and now the UK government will bail him out.

Not much to do with stripey basses though.

Barklessdog · October 09, 2008, 12:10:38 PM

Quote from: gweimer on October 09, 2008, 09:22:59 AM
True, but even some of the analysts are puzzled by some of the contradictions in today's situation. I guess that, although the market saw a big drop on Monday, the dollar actually got stronger in the international markets. Unemployment is lower? We could be at the edge of the next drop-off, but only time will tell. Right now, I'm happy to be employed with good benefits.

Then I see on the news that AIG is given an addition 38 BILLION! after this all comes out, the next day practically. They really need the extra Billions to pay for all the executives compensation & parties. Yeah I can go along with giving them more money.

http://news.yahoo.com/s/afp/20081008/bs_afp/financebankingusbankinsurancecompanyaig_081008204911

I guess they can now do what ever they want.

gweimer · October 09, 2008, 01:49:29 PM

I'll need to see if I can find a link to verify it, but the guy handling my trust account told me that the exiting AIG CEO passed on his exit package compensation. He also didn't look too comfortable in front of the Senate committee looking into all this.

I wouldn't be surprised if the fallout from a lot of this leads to a revision in the Bill of Rights. It seems this country is quick to make personal concessions in the face of disaster in this decade.

uwe · October 10, 2008, 03:26:50 AM

He did.

http://abcnews.go.com/Business/MarketTalk/story?id=5861458&page=1

And this guy, Willumstad, wasn't probably even at any real fault as he had only been named AIG CEO in June 2008 for the then kicked out Sullivan. Willumstad only joined AIG in 2006 after he had been passed over in getting the job of CEO with Citibank (the guy that did get it instead of him, has lost it meanwhile as well though

). By that time AIG's business of insuring banks and others against subprime mortgage defaults with their Credit Default Swaps was well established. Now I'm sure Herr Willumstad received a nice hefty severance sum from Citibank in 2005 when he left them - I hasten to guess that none of his kids will now have to switch to a cheaper college or university - and getting another severance payment from AIG for just three months of work would have looked less than great in this climate, but hats off to him still: Other people with greater blame and responsibility have been a lot more callous.

Uwe

Dave W · October 10, 2008, 09:04:10 AM

The stripey Epi went for $304.99.

Nocturnal · October 10, 2008, 10:34:24 AM

We got a "little" off topic!!

TBird1958 · October 10, 2008, 10:44:57 AM

Considering how many threads I've derailed.............Don't worry

I don't need another Epi.

uwe · October 10, 2008, 11:02:54 AM

Quote from: Dave W on October 10, 2008, 09:04:10 AM
The stripey Epi went for $304.99.

No one can be more condescending with just one sentence than the spaghetti feline.

Dave W · October 10, 2008, 11:21:48 AM

Quote from: uwe on October 10, 2008, 11:02:54 AM
No one can be more condescending with just one sentence than the spaghetti feline.

You just wanted me to repost this.

gweimer · October 10, 2008, 11:29:07 AM

Quote from: TBird1958 on October 10, 2008, 10:44:57 AM
Considering how many threads I've derailed.............Don't worry
I don't need another Epi.

At this point, neither do I.