A must for your Sunday reading is Steve’s excellent post on the history of AIG . It lends context to the remarkable story Sop told in AIG and CV Starr: The spies who shagged us and Russell’s insightful Where Insurance finally meets the big bailout. AIG a massive ponzi scheme?
Next, a thank you to Y’all Politics for picking up It’s all just a game to State Farm – Response in Rigsby qui tam tips hand.
How can the public have confidence in the judicial system when shenanigans that took place Thursday continue to occur, when people in charge of upholding the law conveniently ignore what the law states?
The answer, sadly, is indicated by the lack of reader comments – thus far just two.
The lead story in today’s Sun Herald points out growing number of the homeless on the Coast. A related story announces a new workforce housing center.
The project will receive $2 million from a federally-funded disaster recovery package overseen by the Mississippi Development Authority and $250,000 from the Gulf Coast Community Foundation, which oversees the PCD Community Center.
Gerald Blessey, director of Gulf Coast Housing, said persistent homelessness has become an increased problem since Hurricane Katrina.
“This center will help those individuals find a gateway out of poverty, helping them simultaneously obtain much-needed shelter and job training through one source,” Blessey said.
Unfortunately, opening date is more than a year away.
The latter might be today’s winner of “dumbest” had not CLS already awarded that honor – making the winner KFW, the German bank that transferred ($425 million) to Lehman Brothers Holdings on the same day that Lehman filed bankruptcy
The firing of the three directors was widely reported in Germany, with the tabloid Bild showing a picture of them with the headline, “Germany’s dumbest bankers.” News headlines have since referred to KFW as “Germany’s dumbest bank.”
I bet these guys couldn’t get hired to do a risk analysis on Peeps!