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Archive for December, 2009|Monthly archive page

London Calling, A.I.G. Financial Products

In Economy on December 23, 2009 at 11:08 AM

Eliot Spitzer, former attorney general and governor of New York, Frank Partnoy, professor of law at the University of San Diego and William Black, professor of economics and law at the University of Missouri-Kansas City, are collectively pressing for release of A.I.G. documents, e-mails and kitchen sinks related to counterparties information spanning the 2007-to-present recession period.

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Re: Lord Byron’s Amendment on Closing Prescription Drug Loophole

In Open Letter on December 22, 2009 at 3:52 AM

Opposing cost-control measures aimed at saving Americans $19.4 billion over the next decade (the official CBO estimate) Georgia Senators Johnny Isakson (R) and Saxby Chambliss (R) have successfully voted down the bi-partisan McCain-Dorgan Amendment on Lowering Prescription Drug Prices. In short order, the bill was rejected 51-48, with supporters failing to obtain a 60 vote passage requirement.
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The Sanders Put

In Economy on December 21, 2009 at 3:20 PM

From earlier last week, C-SPAN announces —

“Senator Bernie Sanders held a news conference [December 16, 2009] on the nomination of Ben Bernanke for a second term as Federal Reserve chairman. Senator Sanders has placed a hold on the nomination.”

Click here to access the video footage, SENATOR SANDERS ON BEN BERNANKE NOMINATION. Read the rest of this entry »

Lord Samuelson, Dead

In Apotheosis on December 18, 2009 at 11:23 PM

Lord Paul Samuelson, premier American Nobel-prize winner in economics, formerly professor of economics of M.I.T., is dead. Epic loss withstanding, he remains central and dominant in the network of branches stemming up and down the generational family tree in economics. The New York Times offers a rich recounting of his life and times in Paul A. Samuelson, Economist, Dies at 94.
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Gov’t Paper

In Le Gardien on December 7, 2009 at 3:51 AM

In this version of Le Gardien, we spotlight not the commercial paper market, but the government paper market; and more specifically the sovereign debt market as a bubbling area for potential concern.

Gillian Tett, a prominent ahead-of-the-curve writer at Financial Times, has featured an article outlining concern for sovereign debt risk levels escalating across banking portfolios worldwide. Read the rest of this entry »