From today's FCIC hearing with Joe Cassano, who ran AIG's derivatives unit prior to meltdown: [more]
If you want to fix the budget deficit, defense spending is a good place to start. Stimulus, bailouts, and earmarks get all the media attention, but the truth is defense is the second largest money sink in the federal budget. [more]
I just canceled my Comcast cable and hooked every one of my TVs up to the internet.
It took years of paying $100 a month for cable even when I never watched anything that isn't on Hulu to see the light. The only thing I want (mainly for work) is CNBC, which for $9 a month you can get a live streaming feed online.
I'm hoping this is what the future will look like.
Black Swan author Nassim Taleb got attention with this headline last week: [more]
Article in the LA times about Ron Wayne, Apple co-founder who sold his 10% stake for $800. Today, it'd be worth $22 billion. Whoops. [more]
Below is a picture of Scott Rothstein, who was just given a 50-year sentence for a $1.2 billion ponzi scheme. The picture is from 2007, when he was scamming is little heart out. But seriously ... people trusted their money with this guy.
"BREAKING NEWS: DOW SUFFERS WORST 2-DAY DECLINE SINCE MAY 20, 2010."
Guys, that was three weeks ago. Relax.
As a picture of the new iPhone came on screen at the launch today, Steve quips, "Now stop me if you've seen this."
I'm glad he can keep a sense of humor over the leak.
Arthur Laffer in the Wall Street Journal has a pretty nasty forecast: Basically, we're all going to die a bloody death in 2011 as the Bush tax cuts expire, meaning, as Laffer notes, "the highest federal personal income tax rate will go 39.6% from 35%." [more]