1) The way Congressional Representatives badgered BP CEO Tony Hayward last week was not Congress’s finest moment.
2) Last week’s $20 billion arm-twisting wasn’t this White House’s finest moment either.
3) BP Chairman Carl-Henric Svanberg has been subjected to ojust behandling by monolingual Americans imputing bad intent to his use of the unidiomatic expression “small [...]
Actually, this was posted by Geoff 10 days ago, but I just saw it today (HT: Eric Falkenstein):
On 06.12.10, In Economics, Musings memories and observations, Politics, U.S. economy, by David Pinsen
From the pseudonymous blogger Trumwill, currently working as a Census courier in a Mountain West state, “The Skewing Census”:
There was recently some news about unemployment numbers that looked good at first glance. 430k new jobs! Woohoo! This qualifies for good news these days! Then, of course, we find out that 410k of those jobs are [...]
On 06.07.10, In Economics, History, Musings memories and observations, U.S. economy, by David Pinsen
In Sunday’s Washington Examiner, the Instapundit writes an essay titled, “Higher education’s bubble is about to burst”. Longtime readers will recall we first blogged about this on the old blog in October, 2008: “The next bubble to burst in the deleveraging process: higher education?”.
Fortune reports, “Foxconn’s 11th: Death by exhaustion”:
Hong Kong-based SACOM (Students & Scholars Against Corporate Misbehavior) has added fresh details to another death — the 11th this year — among the 420,000 workers at Foxconn’s massive factory complex in Shenzhen, China.
[...]
SACOM has picked up the cause of Yan Li, 27, an engineer who started at Foxconn [...]
Mark Essel (pictured here, with his lovely new bride and a few fish) e-mailed me this Forbes article by Bob Lenzner, and asked me for my summary/take on it. When I responded with one via e-mail, Mark suggested it would make a good blog post, so here it is:
Bank holding companies such as Goldman Sachs, [...]
On 06.02.10, In Investing, Macro Trends, Short Selling, Short positions, U.S. economy, by David Pinsen
Mentioned this elsewhere earlier today, but shorted PacWest Bancorp (PACW) today at $20.45.
My general thesis in adding a bank short here (with perhaps others to come) is that banks are increasingly stuck between the rock of government regulators discouraging foreclosure and the hard place of deadbeat mortgage borrowers.
According to a recent NY Times article, [...]
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