Deals wrap: Floating AIA
An initial public offering of AIA is likely, sources say. AIA, seen as AIG’s Asian crown jewel, is a key cog in the bailed-out insurer’s plans to repay U.S. taxpayers, who now own nearly 80 percent of the company. View article
The Wall Street reform bill appeared to gain the support it needed for final congressional approval as three key Republicans said they would support the measure. Analysts — and opponents of the bill — expect the bill to ultimately reach President Barack Obama’s desk for approval. View article
Former Treasury Secretary Henry Paulson says if the authority given in the Wall Street reform bill currently before Congress was available during his tenure, the impact of the financial crisis would have been significantly reduced. View NYT article
Lehman and its aftermath, by the numbers
With apologies to Harper’s Index, some collected statistics on the collapse of Lehman and the roller-coaster year that followed.
Add your own significant digits in the comments section.
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Number of siblings who made up the original Lehman Brothers, founded as a dry-goods store in 1844:
Age of Bavarian immigrant Henry Lehman when he founded the business:
Percentage difference between the DNA of former Lehman CEO Dick “The Gorilla” Fuld and an actual gorilla:
The percentage of people that truly understand why this happened. .003%, most likely fewer!
Very, very frightening
If Frankenstein isn’t scary enough for you, the enterprising folks at benandhank.com have Hank Paulson and Ben Bernanke masks ready just in time for Halloween!
That’s right — for the low, low price of $79.90 and you can get a latex mask of “Evil Hank” and “Evil Ben“. If you’re looking for a Halloween costume, though, move fast — Bernanke masks are sold out and only a handful of Paulson masks remain.
For the more thrifty consumer, Forbes has posted printable masks for its list of the scariest people of 2008. The magazine has included the Presidential candidates on this year’s list, as well as Paulson, Bernanke, Dick Fuld and Jimmy Cayne.
And if you’re still at a loss for a costume for Friday — how about going as the U.S. economy? Not much seems much scarier these days.
I have had this rather unpleasant thought over the past two weeks or longer that the McCain-Palin ticket wins the election mainly because voters go into the booth, feel the Bradley issue, do not vote for Obama because he is a black man, negro or whatever term they mentally use, and that they vote for McCain simply for that one reason… however, to make up for having voted against Obama, the Democrat, they are still unsettled about the decision, harbor immense resentment against George Bush and the Republicans generally for wasting money and ruining the economy and banking system, so the voter pulls many more Democratic levers than s/he would have if their mind was not spinning in such a manner at that moment.
The result is an incredible surprise victory for McCain-Palin and moreover for George Bush, who will take absolutely full credit for their election success by pointing out not that the voter supported the McC-P ticket but was actually showing appreciation for Dubya and his good works over the past eight years: no other rhyme or reason will be accepted or acceptable.
So what will McCain-Palin say when Bush, the sponsor of their success, claims shared victory (credit given: Bush 80% or more, McCain-Palin 20% or less) and then offers graciously to be an active and ongoing part of the McC-P transition period of the first 1-2 years in the White House, which McC will accept graciously but move Dubya’s wardrobe and knick-nacks (cowboys hats, spurs, chainsaws, empty and full Jack Daniel’s bottles, etc.) out of the Presidential apartment when the lease is up on the January Innauguration date.
Then McC-P will go over to “the Hill” to meet with a Congress that is not only majority Democrat but super-heavily Democrat by number, quality and reason… and very angry and even worse totally adversarial and uncooperative and in a position to quash every Presidential attempt at anything, especially matters requiring money, for the next 4-8 years.
Now, “my friends” (as that little snit and Pengiun-man McC would say) this would be a very fine mess, and who loses but the people of America: big time and for a long time. I hope the American voter listens to the candidates carefully and votes both their head and their heart and not the colour of one candidate’s skin: there is too much to lose.
Rebound, but no slam dunk
Other than that, Mrs. Lincoln, did you enjoy the play?
Congress dropped a daisy cutter on the market yesterday, rejecting the $700 billion financial rescue plan and sending the stock market spiraling to its biggest one-day loss in history. But stock futures were up more than 2 percent in premarket trading.
Pundits overnight and market watchers today were laboring under the assumption that a package will ultimately reach President Bush’s desk. The process could move to the senate floor, where Treasury Secretary Henry Paulson’s plan has more support. But since House Republicans torpedoed the bill, it could face a tougher process.
In other news, Pfizer plans to drop efforts to develop medicines for heart disease, obesity and bone health as part of its plan to focus on cancer.
