Wednesday, 11 February 2009

Crux PM update:

Atlas Shrugged begins... New York turns on the rich
This is what mob rule democracy gets you.

Merrill execs looted $121 million just before taxpayer takeover
CEO Thain cements "scumbag" status.

Sleazeball of the day award goes to...
The CEO of Peanut Corp. of America knowingly shipped salmonella-tainted peanuts.

Dubai is screwed, dumping more assets
Dubai World may sell luxury retailer Barneys to meet debt payments.

Buffett pounces: Buys more debt
Berkshire Hathaway bought $400 million of bonds from a gravel producer.

Old, grizzled billionaire expects "significant pain"
Charlie Munger, the 85-year old vice-Chairman of Berkshire Hathaway, wrote an op-ed for the Washington Post... which he happens to own 21% of.

The government is using the economy as an excuse to waste money
Bill Bonner on the "strange madness" taking place in America right now

Bond King Gross: 83% in mortgage debt; short Treasuries
Bill Gross held a record 83% of his Total Return Fund in mortgage-backed debt at the end of January.