Waiting for Madoff, Angry Crowd Is Disappointed – Apparently, everyone was hoping for a lynching in Union Square. 150 years is so unsatisfying. [New York Times]
Madoff Faces Harsher Imprisonment Than Corporate Predecessors [Bloomberg]
Deficit forces California to issue IOUs – Still as good as cash, right? [FT.com]
UBS Selling Park Ave. Stake [New York Post]
Related Posts
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 | 07.24.09
• Warren Buffett to Teach Kids About Finance in New Web Cartoon [Bloomberg]
• U.K. GDP Shrinks More Than Expected – “Hopes that the U.K. economy was on the road to recovery after a severe recession received a major blow Friday with official data showing output contracted far more than expected in the second quarter.” [WSJ]
• After Buffett Rebuff, CIT Eyes a Breakup – “Conglomerates Berkshire Hathaway Inc. and Leucadia National Corp. made a bid to buy parts of CIT Group Inc. but were rebuffed by CIT, according to people familiar with the matter, because the price was too low.” [WSJ]
• The Man Who Sank New Jersey [Forbes]
Scoping | 06.23.09
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]