Now raising intellectual capital
from Rolfe Winkler:
Hedgie Tepper on pace to make $2.5 billion this year (WSJ) The moral hazard trade has a new face. Tepper bet big that government would rescue bank shareholders and creditors. He was right. Can we blame him? He didn't make the rules; he just played the game better than the rest once they were made.
Why can't Americans make things? Two words: Business school (Scheiber, New Republic) For 30 years we've been focused on teaching finance, not manufacturing...
At top subprime lender, policies were invitation to fraud (Heath, HuffPo)
Goldman threatens to move some London staff to Spain (Evans, Independent)
Citadel files for bankruptcy (Spector/McBride, WSJ) The syndicator of Don Imus' morning show is the latest radio company to struggle with debt. See also Clear Channel, Emmis and Regent....