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Video: Italian Premier Silvio Berlusconi punched in the face
See also FT.com - Berlusconi assaulted at Milan rally
Fairfield Residential is bankrupt, files Chapter 11
This comes via the Wall Street Journal: Fairfield Residential LLC, one of the nation's largest apartment owners and developers, filed for bankruptcy on Sunday, the latest casualty of the turmoil engulfing the U.S. real-estate market.…
News from 1930: Closing of Bank of United States
The closing of the Bank of the United States could be considered the event during the Great Depression that was most akin for the U.S. to the collapse of Lehman Brothers last year. The event occurred on 12 December 1930 – so 79 years…
Greece risks financial Armageddon while Ireland makes cuts
The Irish government announced draconian spending cuts of 6 billion Euros in order to stave off a debt crisis in the worst modern-day downturn in the nation’s history. Even so, Irish government bond yields have been rising relative to…
The week in review at Credit Writedowns: 2009-12-12
Most Read Buiter: “It’s Five Minutes to Midnight for Greece” Jon Stewart says Gretchen Carlson is dumbing herself down for Fox Mental Midgets and Moral Pygmies John Mauldin: “Nobody’s holding a gun to your head” on stocks…
News from around the web: 2009-12-12
A quick note for those subscribing via the free daily e-mail newsletter. I am looking signing up new readers via FeedBurner as the service has improved dramatically. If you are using FeedBlitz, please unsubscribe and subscribe instead to…
Sarah Palin reads Shatner after Shatner reads Palin again
Back at ya, Captain Kirk See Shatner’s reading of Palin here and of Levi Johnston here. (video embedded above) Oh and if you want a little TJ Hooker action, here it is too.
John Mauldin: Thoughts on the Statistical Recovery
Below is the latest from John Mauldin via his weekly newsletter. John expects a double dip recession as I do. Here he talks about what I call structurally high private sector unemployment i.e. unemployment in the private sector that cannot…
Standard Bank says Greece and Ireland may leave Eurozone
The headline at Bloomberg reads “Ireland, Greece May Leave Euro, Standard Bank Says.” Before I even started reading this I was sceptical. The Telegraph’s Ambrose Evans-Pritchard makes calls like this, but his Euro-sceptic views…
Bernie Madoff is seen as a ‘godfather’ to fellow inmates
Today is the first anniversary of Bernie Madoff's scam of the century which defrauded investors out of tens of billions. The former fund manager and head of NASDAQ who ran the world's largest ever financial fraud seems to be a hit in prison…