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Archive for November, 2008

from The American Conservative
by Theodore Dalrymple

…Moreover, the appointment of Rahm Emanuel, a former director of Freddie Mac and the largest congressional recipient of hedge-fund donations, as White House chief of staff induces a powerful and not very pleasant sense of déjà vu. The appointment is a sign of things to come.
Britain has seen the [...]

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from ABC News
By BRIAN ROSS and JOSEPH RHEE
Big Three CEOs Flew Private Jets to Plead for Public Funds
Auto Industry Close to Bankruptcy But They Get Pricey Perk
November 19, 2008—
The CEOs of the big three automakers flew to the nation’s capital yesterday in private luxurious jets to make their case to Washington that the auto industry [...]

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No Depression In Heaven
the Carter Family
For fear the hearts of men are failing,
For these are latter days we know
The Great Depression now is spreading,
God’s word declared it would be so.
     I’m going where there’s no depression,
     To the lovely land that’s free from care
     I’ll leave this world of toil and trouble,
     My home’s in Heaven, I’m going there.
In [...]

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from  MSN money
by Kim Peterson
Chrysler gives bonuses, asks for bailout

Chrysler is asking the government for a bailout. It’s laying off employees and cutting salaries. It’s a company in trouble.
Oh yeah, it’s also paying $30 million in bonuses to dozens of top executives.
That’s the end result of a poorly-timed plan to keep Chrysler together as it [...]

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from Daily Mail Online
by Sam Greenhill
Bank executives enjoy SECRET £300,000 champagne party… just weeks after £20bn bail-out by taxpayers
The Royal Bank of Scotland has blown £300,000 on a secret champagne junket for executives – less than a month after being given a £20billion handout by the taxpayer.
Bankers and their partners enjoyed the lavish party to [...]

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Hard Times, But Big Wall Street Bonuses
from CBSNews.com
It’s no secret that investment bankers are well-compensated, mostly through year-end bonuses, especially during bull markets.
But can they still count on those big bonuses this year, in the midst of the financial crisis and market freefall?
CBS News correspondent Priya David spoke with several compensation consultants who said that, [...]

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from The Times Online
CEO murdered by mob of sacked Indian workers – Work protests could threaten India’s economy
by Rhys Blakely in Bombay
Corporate India is in shock after a mob of workers bludgeoned to death the chief executive who sacked them from a factory in a suburb of Delhi.
Lalit Kishore Choudhary, 47, the head of the [...]

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from Business & Media Institute
by Jeff Poor
Knock Out: CNBC Confirms Lehman CEO Punched at Gym
Network verifies reports Richard Fuld was attacked for financial institution’s bankruptcy.
It seems anxiety from the financial crisis is reaching new highs, but the tipping point for one individual came at the Lehman Brothers gym in the midst of the company’s collapse.
While [...]

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from The Guardian
by Andrew Clark
So long, suckers. Millionaire hedge fund boss thanks ‘idiot’ traders and retires at 37

The boss of a successful US hedge fund has quit the industry with an extraordinary farewell letter dismissing his rivals as over-privileged “idiots” and thanking “stupid” traders for making him rich.
Andrew Lahde’s $80m Los Angeles-based firm Lahde Capital [...]

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