Lunchtime Links 7-10
(Send links, pics, vids to optionarmageddon at gmail.com)
With sale of good assets, GM tries for fresh start (NYT)Â GM made it through bankruptcy in 40 days.Â Remember when everyone was saying that if GM filed for bankruptcy the world would end?Â It didn’t.Â Yeah they got lots of government help, but they were still able to divest billions of old liabilities.Â So why don’t we remove the bailout facilities benefiting banks and busted homeowners and force them through the bankruptcy process?
AIG seeks clearance on bonuses (WSJ)Â Are they kidding?Â The fact that these guys still get a paycheck should be bonus enough.Â If they want to leave, fine.Â Let the company implode.Â We need more creative destruction.
10 most broke states (ABC News)Â This article notes that police overtime for the Michael Jackson memorial was estimated at $4 million.Â That hits L.A.’s budget, not the state’s.Â Still: Not helpful.
Whip Inflation Now (David Brooks)Â “Health care inflation is not some optional side issue that can be left out of reform. It is the core problem that undermines the viability of the health care system, the federal budget and the economy as a whole. Maybe the administration will provide some last-minute solution in conference or somewhere else. But right now the prospects donâ€™t look good.”
FDIC said to be unwilling to back CIT on risk (Bloomberg)Â Kudos to Sheila Bair for saying no to someone (assuming she sticks to it).Â If only other arms of the government would do this more often, we might actually clean up the financial mess rather than sweep it under the rug.
Biff! Wham! Pow!Â Times Sq. cops vs. superheroes (NY Post)Â “Mommy, it’s Superman!”
If Swine Flu weren’t enough, now there’s Swine Ebola (Scientific American)Â Actually, this isn’t a new virus.Â Apparently pigs have always carried a strain of ebola that doesn’t infect humans.Â Not yet anyway…
60 million stung by social networking ripoff (Independent)Â I definitely got half a dozen e-mails from Tagged.Â I don’t remember if I clicked on any.Â Hope not.
Why didn’t I think of this?