In The Newz
After Rescue, New Weakness Seen at A.I.G. (NYT)
If A.I.G.’s incoming premiums shrink, W. O. Myrick, a retired chief insurance examiner warned, “the whole thing’s going to collapse in on itself.”
The Risk Mirage At Goldman Sachs (BusinessWeek)
Down with VaR! says one guy: “Whatever your opinion of Goldman’s fortunes and market forays in this recession, the fact is that a VaR-based analysis of any firm’s riskiness is useless. VaR lies. Big time. As a predictor of risk, it’s an impostor. It should be consigned to the dustbin. Firms should stop reporting it. Analysts and regulators should stop using it.”
HSBC May Post Loss on $15 Billion Bad Loan Provisions (Bloomberg)
Sad trombones all around.
US Administration Working to Keep ‘Clunkers’ Program (CNBC)
Even though it’s basically out of money, etc, etc, etc.
Bernanke’s Popularity (FT)
Do you hate the Fed Chairman because he has a facial hair? Is that it?
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