Gerry Canavan

the smartest kid on earth

Posts Tagged ‘Alan Greenspan

This Morning’s Must-Listen Economic Podcasts

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…are Frontline‘s “The Warning” and “The Card Game.” Both are from earlier this fall.

Big Names

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Let’s talk about famous people.

* Larry David is waiting for November 4.

* Scott McClellan gives Barack Obama the kiss of death.

* Alan Greenspan’s lost his faith.

* Will Ferrell returns to Saturday Night Live.

* And Stephen King again finds himself confronted by one of his own creations.

The Second Great Depression?

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While I’ve been finishing up my absurdly busy weekend, Wall Street has apparently collapsed around our ears.

Written by gerrycanavan

September 15, 2008 at 2:57 am

Market Apocalypse

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Via Matt Yglesias and everywhere else, this is why I’m glad I have no money:

It’s just been announced that JP Morgan will buy Bear Stearns for $2 a share, implying a value of about $250 million. Given that the company headquarters is said to be worth about $1.2 billion, that gives the BS banking business a value of negative $1 billion. And that’s only after the Fed agreed to take on $30 billion worth of toxic waste from the BS portfolio, politely described as “less-liquid assets.”

Bear Stearns, Wall Street’s fifth-biggest investment bank, had opened at $60 a share on Thursday.

There’s much more at Huffington Post, MetaFilter, and elsewhere, including Alan Greenspan’s claim that this is the worst financial crisis since World War II. And he should know, he helped cause it.

Written by gerrycanavan

March 17, 2008 at 4:00 am