At Least Seven Killed in Red Line Crash – “One Metro train slammed into the back of another on the Red Line at the height of the evening rush yesterday, killing at least seven people and injuring more than 70 others in the deadliest accident in Metrorail’s 33-year-history.” [Washington Post]
Conspiracy surrounds $134bn ‘bond’ find – If the blogosphere is good for anything, it’s a conspiracy [BBC]
Experts: Apple Disclosure ‘Falls Short’ – [Business Week]
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Scoping | 07.13.09
• Stage Set For Sotomayor’s Confirmation Hearings – “As hearings begin, many observers believe only a major blunder could halt the 54-year-old federal appeals court judge’s march toward becoming the first Hispanic, and just the third woman, to sit on the nation’s mightiest bench.” [NPR]
• CIT Group Scrambles to Survive, Avoid a Run – Here we go again? [WSJ]
• Bank of America Said to Balk at Paying Backstop Fee – “Regulators contend Bank of America owes at least part of a $4 billion fee it agreed to pay in January — even without a completed legal document — because the company benefited from implied U.S. backing on about $118 billion of Merrill Lynch assets, such as mortgage-backed bonds, people familiar with the matter said.” [Bloomberg]
Scoping | 07.31.09
• Buffett Posts $1 Billion Profit on China Hybrid Carmaker BYD – “The automaker has jumped fivefold in Hong Kong trading since the deal was announced on Sept. 27, helped by Buffett’s investment and rising demand for fuel-efficient vehicles.” – YAWN. [Bloomberg]
• ‘Cash For Clunkers’ Lacks Cash For Clunkers [NPR]
• U.S. Recession Worse Than Previously Estimated, Revisions Show – “The first 12 months of the U.S. recession saw the economy shrink more than twice as much as previously estimated, reflecting even bigger declines in consumer spending and housing, revised figures showed.” Government data estimates not even close? THE HORROR. [Bloomberg]
• Regulators Are Getting Tougher on Banks -“Federal regulators have escalated the number of wounded banks they have essentially put on probation, with some of the targeted banks complaining that the action is too harsh.” [WSJ]
Scoping | 06.22.09
U.S. seeks delay on calculating Madoff restitution – Sentencing will not be delayed. Whew! We’re not sure if we can wait much longer for victims’ statements [Reuters via DealBook]
Sorry America, We Still Have No Clue What To Do About ‘Too Big To Fail’ – Newspeak phrase of the day: “Tier 1 Financial Holding Companies” [Clusterstock]
All together now: ‘F is for failure’ – Hey, it’s all around. Somebody’s got to talk about it. [FT Alphaville]