Bloomberg and the FT have almost-identical headlines this morning, saying that Goldman Sachs stands to make $1 billion if CIT declares bankruptcy. Neither of them is long on specifics, and both seem to be based on information from a single anonymous source, which is then promptly denied by Goldman itself. Here’s Bloomberg:
Normally, when I admit that I was wrong, I don’t get a lot of responses basically saying “no, you were right the first time round”. But this time, when I admitted I was wrong about bank nationalization, I’ve received a lot of pushback along those lines. Charles’s comment is representative:
Yikes the Ryan Lizza piece on Larry Summers is long — over 11,500 words. And even then it manages to say absolutely nothing about some key issues, such as the $5.2 million he was paid by DE Shaw to work one day a week in 2008; or the allegations of Summers actively working to marginalize the influence of Paul Volcker; or l’affaire Shleifer. But Lizza does get Summers to admit to mistakes during his tenure at Treasury, at least as regards the subject of derivatives:
Spending a couple of high-intensity days in Washington, as I’ve just done, is enough to send anybody dreaming of booze. And so it’s quite lovely to read Dr Vino’s missive from the latest Executive Wine Seminar, which featured not only 15 spectacular 2005 Bordeaux wines, but also Robert Parker, tasting them blind.
Via Paul comes this montage of highlights from the people who brought you the Everything is OK series. What makes it especially fabulous for me is the fact that a large chunk of it takes place right outside Reuters HQ in Canary Wharf. Obviously, you shouldn’t watch it. Do your job instead. Or go shopping. One or the other.