Word: worthing
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...halt to sales is forcing Toyota to suspend production at five plants, idling more than 20,000 workers and leaving 1,200 Toyota dealers sitting with roughly 250,000 unsold - and for now, unsalable - vehicles worth nearly $50 billion. Jesse Toprak, an analyst with TrueCar.com, says Toyota will probably have to help the dealers finance the inventory as the sales freeze continues...
Other banks were willing to strike even more generous deals. UBS initially told AIG that it would take collateral worth 35% less than what the insurer owned on 55% of the $4.3 billion in CDS contracts it had sold to the Swiss bank. For the remaining 45%, UBS was willing to allow AIG to pay 10% less than what it had originally promised. Those deals would have saved AIG about $1 billion. AIG later broke off those negotiations, and as with all of its other counterparties, paid UBS in full. BlackRock, in the report, said Goldman Sachs, French bank Calyon...
...still questionable that the Federal Reserve saved taxpayers money by paying off Goldman and others in exchange for the bonds. The government gave AIG $29.6 billion to pay off the rest of its CDS contracts, acquiring the bonds in the process. Those bonds are now worth $23.5 billion. Either way, Uncle Sam winds...
...interesting perspective on the battle of man (and woman) versus nature. Don’t be discouraged by its length. With gems like this—“I think that was what bothered me most, the sight of her panties"—it is definitely worth your time...
...Helicopter Ben, Zimbabwe Ben and the Villain of the Year, whose cheap printed money is driving us to hyperinflation. It's true that Bernanke drove interest rates down to zero and tripled the Fed's balance sheet to avert a depression; he has also bought more than $1 trillion worth of mortgage-backed securities to lower mortgage rates, boost housing prices and pull us out of recession. Now that the recession seems to be over, hawks are badgering him to start tightening the money supply to avoid inflation and an overheated economy. Bernanke's response is simple: What inflation? There...