Market song o’ day: This Perfect World.
Good job, MBNA: Credit card debt collectors can’t be as mean anymore! One person’s junk is some PE’s treasure: Investors to Buy IndyMac for $13.9 Billion. Laughing all the way to the bank: Despite Having A S*%!load Of Our Money, Banks Still Aren’t Lending.
What just happened: It has been a year of record misery: the largest bankruptcy, bank failure and Ponzi scheme in U.S. history; $720 billion in writedowns and losses by financial institutions; $30.1 trillion in market valuation wiped out.
Midget madoffs: U.S. regulators working to untangle Bernard Madoff’s alleged $50 billion Ponzi scheme are probing other money managers suspected of using similar tactics, two people with knowledge of the inquiries said. Austrian economics: The Austrian government has taken control of a private bank with significant exposure to the alleged fraud by Bernard Madoff.
PO’d: 2008 breaks 31-year record for VC-backed IPOs.
Salt’d: Frozen Towns “Experiment” With Salt Replacements. Vista’d: Microsoft to announce job cuts. Office’d: Vacancy rates in office buildings exceed 10 percent in virtually every major city in the country and are rising rapidly. Broken plate: UK government eats Waterford.
Where’s it gonna go: Obama Plan Includes $300 Billion in Tax Cuts.
You mean there are no ads on the front page? The Times to Sell Display Ads on the Front Page.
Hyundai’s offering a deal: Buy or lease a car, and if you lose your income, the dealership will take the car back.
Lives vs ideology: Ignoring the Oracles: You Are With the Free Markets, or Against Them.
