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  • Mark-to-Market: Accountants Steal Spotlight From London

    For days, President Obama and 19 other world leaders have been meeting in London — with an occasional side visit with the Queen — to discuss the world’s finances. But today, the real action was in the implausible city of Norwalk, Connecticut for a meeting of the Financial Accounting Standards … More

    This is Bad News? Banks Return TARP Money, Media Frets

    Yesterday, four small banks became the first in the country to pay back taxpayer money received from the government. The banks – Old National Bancorp of Indiana, IberiaBank of Louisiana, Bank of Marin Bancorp in California and Signature Bank of New York – returned a total of $338 million to … More

    Lost Your Corporate Plane? JetBlue Wants Your Business

    [youtube]http://www.youtube.com/watch?v=OmDiDJ7QrdU&feature=related[/youtube]Times certainly aren’t what they used to be for corporate executives, with so many of the perks formerly enjoyed being cut back or eliminated. But all is not lost, at least according to JetBlue, which is trying to make lemonade out of corporate CEO lemons. In a creative, presumably tongue-in-cheek, … More

    You're Fired! Obama Fires GM's CEO

    Last night, the CEO of General Motors, Rick Wagoner, was fired by the President of the United States. Perhaps not “fired” in the strict legal sense – if legalities matter anymore – but certainly fired for all effective purposes. In a statement by Wagoner released last night, the now-former CEO … More

    Carpe What? Obama’s Plan to Seize Non-Banks

    Should the federal government have broad authority to seize private financial institutions on the verge of collapse to keep them from harming the economy? President Obama and his treasury secretary, Timothy Geithner, are arguing just that – saying that such power would have eased problems associated with recent bailouts. “(It) … More

    ARGH: The AIG Fiasco Gets Worse

    As more details emerge as to bonuses paid by bail-out insurance giant AIG, the nation’s outrage is growing. According to figures released by New York Attorney General Andrew Cuomo, no less than 73 employees received bonuses of $1 million or more. Seven received more than $4 million. One employee received … More

    AIG, Bonuses and Bankruptcy

    Bonuses for AIG employees? News this weekend that troubled insurer AIG, after receiving over $170 billion in taxpayer funds to prop itself up, is planning to pay some $1.2 billion in bonuses and retention payments met with general outrage from the average man in the street to the man in … More

    Next Bailout: Liberal Media?

    Over the past few months,  we’ve seen a seemingly endless parade of bailouts from Washington — for banks, for automobiles, and just about everything else.    Today,  Congress may be voting on yet another bailout — this time for liberal media.   This afternoon, the Senate is expected to take up a … More

    Airline Safety: The Deregulation Critics Were Wrong

    It could have been a tragedy, but wasn’t.  After yesterday’s dramatic Hudson River crash landing of a US Airways jet, all 155 passengers and crew made it back to shore safely.   Much of the credit goes to the plane’s pilot, who managed to maneuver the plane safely down.   But the … More

    Just One More? Time to Say 'No' to Expanded Treasury Equity Purchases

    The Wall Street Journal is reporting this afternoon that the Treasury Department is mulling the expansion of its bank equity purchase program to cover insurance firms. And other firms in other industries, including non-financial companies, are also asking be included. It should just say no to these ill-considered ideas. The … More