The Great Bank Fail Out
February 25, 2009 11:47 AM Subscribe
posted by ornate insect (96 comments total)
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Remember the stink a few weeks back that caused Wells Fargo to cancel their Las Vegas party?
Well, it appears that last week Northern Trust, a bank that received $1.6 billion dollars in federal money, held a series of lavish parties in L.A.
, complete with performances by Sheryl Crow, Earth-Wind-and-Fire, and others (more here
And as to the ongoing bank "bailout" itself, Paul Krugman made some excellent points on his blog yesterday
(his piece begins I’m trying to be sympathetic to the various plans, or rumors of plans, for bank aid; but I keep not being able to understand either what the plans are, or why they’re supposed to work. And I don’t think it’s me.)
Worth a read.
Meanwhile retail sales remain grim
. But if you live in L.A., the Dodgers may be hiring