Bailout Nation (48 page)
Authors: Barry Ritholtz
5
Alan Abelson, “Hold the Bubbly,”
Barron's
, January 2, 2006,
http://online.barrons.com/article/SB113598787824035213.html
Chapter 9: The Mad Scramble for YieldAlan Abelson, “Hold the Bubbly,”
Barron's
, January 2, 2006,
http://online.barrons.com/article/SB113598787824035213.html
1
Jesse Eisinger,
Portfolio
, September 2007,
www.portfolio.com/news-markets/national-news/portfolio/2007/08/13/Moody-Ratings-Fiasco
.
Jesse Eisinger,
Portfolio
, September 2007,
www.portfolio.com/news-markets/national-news/portfolio/2007/08/13/Moody-Ratings-Fiasco
.
2
Aaron Lucchetti and Serena Ng, “How Rating Firms' Calls Fueled Subprime Mess,”
Wall Street Journal
, August 15, 2007,
http://online.wsj.com/article/SB118714461352698015.html
Aaron Lucchetti and Serena Ng, “How Rating Firms' Calls Fueled Subprime Mess,”
Wall Street Journal
, August 15, 2007,
http://online.wsj.com/article/SB118714461352698015.html
3
Aaron Lucchetti, “As Housing Boomed, Moody's Opened Up,”
Wall Street Journal
, April 11, 2008,
http://online.wsj.com/article/SB120787287341306591html
.
Aaron Lucchetti, “As Housing Boomed, Moody's Opened Up,”
Wall Street Journal
, April 11, 2008,
http://online.wsj.com/article/SB120787287341306591html
.
4
Elliot Blair Smith, “Bringing Down Wall Street as Ratings Let Loose Sub-prime Scourge, Part I,”
Bloomberg
, September 24, 2008,
www.bloombergcom/apps/news?pid=20601109&sid=ah839IWTLP9s&#.
Elliot Blair Smith, “Bringing Down Wall Street as Ratings Let Loose Sub-prime Scourge, Part I,”
Bloomberg
, September 24, 2008,
www.bloombergcom/apps/news?pid=20601109&sid=ah839IWTLP9s&#.
5
Niall Ferguson, “Wall Street Lays Another Egg,”
Vanity Fair
, December 2008,
www.vanityfair.com/politics/features/2008/12/banks200812
.
Niall Ferguson, “Wall Street Lays Another Egg,”
Vanity Fair
, December 2008,
www.vanityfair.com/politics/features/2008/12/banks200812
.
6
Ibid.
Ibid.
7
Ibid.
Ibid.
8
Ibid.
Ibid.
9
Ibid.
Chapter 10: The Machinery of SubprimeIbid.
1
Anthony Ha, “Minorities Hit Hard by Foreclosure Crunch,”
Hollister (CA) Free Lance
, May 3, 2007,
http://hollisterfreelance.com/news/contentview.asp?c=213141
.
Anthony Ha, “Minorities Hit Hard by Foreclosure Crunch,”
Hollister (CA) Free Lance
, May 3, 2007,
http://hollisterfreelance.com/news/contentview.asp?c=213141
.
2
Mara Der Hovanesian, “Nightmare Mortgages,”
BusinessWeek
, September 11, 2006,
www.businessweek.com/magazine/content/06 _37/b4000001.htm
Mara Der Hovanesian, “Nightmare Mortgages,”
BusinessWeek
, September 11, 2006,
www.businessweek.com/magazine/content/06 _37/b4000001.htm
3
Sarah Max, “Appraisal Fraud: Your Home at Risk; Appraisers Say They're Being Pressured by Lenders to Inflate Their Estimates of Home Values,”
CNNMoney
, June 2, 2005,
http://money.cnn.com/2005/05/23/real_estate/financing/appraisalfraud/index.htm
.
Sarah Max, “Appraisal Fraud: Your Home at Risk; Appraisers Say They're Being Pressured by Lenders to Inflate Their Estimates of Home Values,”
CNNMoney
, June 2, 2005,
http://money.cnn.com/2005/05/23/real_estate/financing/appraisalfraud/index.htm
.
4
Jeff Manning, “Chase Mortgage Memo Pushes âCheats & Tricks,' ”
Oregonian
, March 27, 2008,
www.oregonlive.com/business/oregonian/index.ssf?/base/business/120658650589950.xml&coll=7
.
Chapter 11: Radical Deregulation, NonfeasanceJeff Manning, “Chase Mortgage Memo Pushes âCheats & Tricks,' ”
Oregonian
, March 27, 2008,
www.oregonlive.com/business/oregonian/index.ssf?/base/business/120658650589950.xml&coll=7
.
1
Peter S. Goodman, “Taking Hard New Look at a Greenspan Legacy,”
New York Times
, October 9, 2008,
www.nytimes.com/2008/10/09/business/economy/09greenspan.html
.
Peter S. Goodman, “Taking Hard New Look at a Greenspan Legacy,”
New York Times
, October 9, 2008,
www.nytimes.com/2008/10/09/business/economy/09greenspan.html
.
2
Ibid.
Ibid.
3
Ibid.
Ibid.
4
Ibid.
Ibid.
5
Eric Lipton, “Gramm and the âEnron Loophole,'”
New York Times
, November 17, 2008,
www.nytimes.com/2008/11/17/business/17grammside.html
.
Eric Lipton, “Gramm and the âEnron Loophole,'”
New York Times
, November 17, 2008,
www.nytimes.com/2008/11/17/business/17grammside.html
.
6
“Blind Faith: How Deregulation and Enron's Influence over Government Looted Billions from Americans,” Public Citizen, December 2001,
www.tradewatch.org/cmep/energy_enviro_nuclear/electricity/Enron/articles
. cfm?ID=7104.
“Blind Faith: How Deregulation and Enron's Influence over Government Looted Billions from Americans,” Public Citizen, December 2001,
www.tradewatch.org/cmep/energy_enviro_nuclear/electricity/Enron/articles
. cfm?ID=7104.
7
Lipton, “Gramm and the âEnron Loophole.'”
Lipton, “Gramm and the âEnron Loophole.'”
8
“Levin Lauds Congressional Approval of Close âEnron Loophole' Law,” press release, Office of Senator Carl Levin, May 15, 2008,
http://levin.senate.gov/newsroom/release.cfm?id=297870
.
“Levin Lauds Congressional Approval of Close âEnron Loophole' Law,” press release, Office of Senator Carl Levin, May 15, 2008,
http://levin.senate.gov/newsroom/release.cfm?id=297870
.
9
Frank Partnoy, “Stock Gambling on the Cheap,”
New York Times
, December 21, 2000,
http://query.nytimes.com/gst/fullpage.html?res=9C06E6D81E39F932A15751C1A9669C8B63&sec=&spon=&pagewanted=2
Frank Partnoy, “Stock Gambling on the Cheap,”
New York Times
, December 21, 2000,
http://query.nytimes.com/gst/fullpage.html?res=9C06E6D81E39F932A15751C1A9669C8B63&sec=&spon=&pagewanted=2
10
Lee A. Pickard, “SEC's Old Capital Approach Was Triedâand True,”
American Banker
173, no. 153 (August 8, 2008), 10,
www.americanbanker.com/article.html?id=20080807ZAXGNH3Y&queryid=2110207978&
.
Lee A. Pickard, “SEC's Old Capital Approach Was Triedâand True,”
American Banker
173, no. 153 (August 8, 2008), 10,
www.americanbanker.com/article.html?id=20080807ZAXGNH3Y&queryid=2110207978&
.
11
Alan Greenspan, “Consumer Finance,” remarks at the Federal Reserve System's Fourth Annual Community Affairs Research Conference, Washington, D.C., April 8, 2005.
Alan Greenspan, “Consumer Finance,” remarks at the Federal Reserve System's Fourth Annual Community Affairs Research Conference, Washington, D.C., April 8, 2005.
12
Alan Greenspan, “Understanding Household Debt Obligations,” remarks at the Credit Union National Association 2004 Governmental Affairs Conference, Washington, D.C., February 23, 2004.
Alan Greenspan, “Understanding Household Debt Obligations,” remarks at the Credit Union National Association 2004 Governmental Affairs Conference, Washington, D.C., February 23, 2004.
13
Binyamin Appelbaum and Ellen Nakashima, “Banking Regulator Played Advocate over Enforcer,”
Washington Post
, November 23, 2008,
www.washingtonpost.com/wp-dyn/content/article/2008/11/22/AR2008112202213.html?nav=rss_print&sid=ST2008112300238&s_pos=
.
Binyamin Appelbaum and Ellen Nakashima, “Banking Regulator Played Advocate over Enforcer,”
Washington Post
, November 23, 2008,
www.washingtonpost.com/wp-dyn/content/article/2008/11/22/AR2008112202213.html?nav=rss_print&sid=ST2008112300238&s_pos=
.
14
“FBI Issues Mortgage Fraud Notice in Conjunction with Mortgage Bankers Association,” press release, March 8, 2007,
www.fbi.gov/pressrel/pressrel07/mortgagefraud030807.htm
.
“FBI Issues Mortgage Fraud Notice in Conjunction with Mortgage Bankers Association,” press release, March 8, 2007,
www.fbi.gov/pressrel/pressrel07/mortgagefraud030807.htm
.
15
Terry Frieden, “FBI Warns of Mortgage Fraud âEpidemic'; Seeks to Head Off âNext S&L Crisis,' ” CNN, September 17, 2004,
www.cnn.com/2004/LAW/09/17/mortgage.fraud/
.
Terry Frieden, “FBI Warns of Mortgage Fraud âEpidemic'; Seeks to Head Off âNext S&L Crisis,' ” CNN, September 17, 2004,
www.cnn.com/2004/LAW/09/17/mortgage.fraud/
.
16
Greg Ip, “Did Greenspan Add to Subprime Woes? Gramlich Says Ex-Colleague Blocked Crackdown on Predatory Lenders Despite Growing Concerns,”
Wall Street Journal
, June 9, 2007,
http://online.wsj.com/article/SB118134111823129555.html
Greg Ip, “Did Greenspan Add to Subprime Woes? Gramlich Says Ex-Colleague Blocked Crackdown on Predatory Lenders Despite Growing Concerns,”
Wall Street Journal
, June 9, 2007,
http://online.wsj.com/article/SB118134111823129555.html
17
Ibid.
Ibid.
18
Edmund L. Andrews, “In Reversal, Fed Approves Plan to Curb Risky Lending,”
New York Times
, December 19, 2007,
www.nytimes.com/2007/12/19/business/19subprime.html
.
Chapter 12: Strange Connections, Unintended ConsequencesEdmund L. Andrews, “In Reversal, Fed Approves Plan to Curb Risky Lending,”
New York Times
, December 19, 2007,
www.nytimes.com/2007/12/19/business/19subprime.html
.
1
Frederic Bastiat, “What Is Seen and What Is Not Seen,” in
Selected Es says on Political Economy
, trans. Seymour Cain (Irvington-on-Hudson, NY: Foundation for Economic Education, 1995),
www.econlib.org/library/Bastiat/basEss1.html
.
Frederic Bastiat, “What Is Seen and What Is Not Seen,” in
Selected Es says on Political Economy
, trans. Seymour Cain (Irvington-on-Hudson, NY: Foundation for Economic Education, 1995),
www.econlib.org/library/Bastiat/basEss1.html
.
2
Boskin Commission, “Toward a More Accurate Measure of the Cost of Living: Final Report to the Senate Finance Committee from the Advisory Commission to Study the Consumer Price Index,” December 4, 1996,
www.ssa.gov/history/reports/boskinrpt.html
.
Boskin Commission, “Toward a More Accurate Measure of the Cost of Living: Final Report to the Senate Finance Committee from the Advisory Commission to Study the Consumer Price Index,” December 4, 1996,
www.ssa.gov/history/reports/boskinrpt.html
.
3
Kim Yeon-hee, “South Korea's KDB confirms talks with Lehman Ended,” Reuters, September 10, 2008,
www.reuters.com/article/businessNews/idUSSEO18673220080910?feedType=RSS&feedName=businessNews
Kim Yeon-hee, “South Korea's KDB confirms talks with Lehman Ended,” Reuters, September 10, 2008,
www.reuters.com/article/businessNews/idUSSEO18673220080910?feedType=RSS&feedName=businessNews
4
Lee A. Pickard, “SEC's Old Capital Approach Was Triedâand True,”
American Banker
173, no. 153 (August 8, 2008),
www.americanbanker.com/article.html?id=20080807ZAXGNH3Y&queryid=2110207978&
.
Lee A. Pickard, “SEC's Old Capital Approach Was Triedâand True,”
American Banker
173, no. 153 (August 8, 2008),
www.americanbanker.com/article.html?id=20080807ZAXGNH3Y&queryid=2110207978&
.
5
“Free Market Society,” transcript of a discussion between David Gergen and Thomas Friedman,
NewsHour
, PBS, February 13, 1996,
www.pbs.org/
newshour /gergen/friedman.html.
“Free Market Society,” transcript of a discussion between David Gergen and Thomas Friedman,
NewsHour
, PBS, February 13, 1996,
www.pbs.org/
newshour /gergen/friedman.html.
6
Paul S. Atkins, “Improving Financial Markets,” remarks to the Vanderbilt University Financial Markets Research Center Conference on Securitization, Nashville, Tennessee, April 17, 2008,
www.sec.gov/news/speech/2008/spch041708psa.htm
.
Paul S. Atkins, “Improving Financial Markets,” remarks to the Vanderbilt University Financial Markets Research Center Conference on Securitization, Nashville, Tennessee, April 17, 2008,
www.sec.gov/news/speech/2008/spch041708psa.htm
.
7
Gretchen Morgenson, “Debt Watchdogs: Tamed or Caught Napping?”
New York Times
, December 6, 2008,
www.nytimes.com/2008/12/07/business/07rating.html?pagewanted=1&hp
.
Chapter 13: Moral Hazard: Why Bailouts Cause Future ProblemsGretchen Morgenson, “Debt Watchdogs: Tamed or Caught Napping?”
New York Times
, December 6, 2008,
www.nytimes.com/2008/12/07/business/07rating.html?pagewanted=1&hp
.
1
Alan Greenspan, letter to Senator Alphonse D'Amato, October 20, 1998, cited in
When Genius Failed: The Rise and Fall of Long-Term Capital Management
, by Roger Lowenstein (New York: Random House, 2000).
Alan Greenspan, letter to Senator Alphonse D'Amato, October 20, 1998, cited in
When Genius Failed: The Rise and Fall of Long-Term Capital Management
, by Roger Lowenstein (New York: Random House, 2000).
2
Allard E. Dembe and Leslie I. Boden, “Moral Hazard: A Question of Morality?”
New Solutions
10, no. 3 (2000), 257-279.
Allard E. Dembe and Leslie I. Boden, “Moral Hazard: A Question of Morality?”
New Solutions
10, no. 3 (2000), 257-279.
3
E. S. Browning, “Fed Treads Moral Hazard,”
Wall Street Journal
, August 13, 2007,
http://online.wsj.com/article/SB118696170827295489.html
E. S. Browning, “Fed Treads Moral Hazard,”
Wall Street Journal
, August 13, 2007,
http://online.wsj.com/article/SB118696170827295489.html
4
Roger Lowenstein,
When Genius Failed: The Rise and Fall of Long-Term Capital Management
(New York: Random House, 2000).
Roger Lowenstein,
When Genius Failed: The Rise and Fall of Long-Term Capital Management
(New York: Random House, 2000).
5
“Questions about the $700 Billion Emergency Economic Stabilization Funds: The First Report of the Congressional Oversight Panel for Economic Stabilization,” December 10, 2008,
www.house.gov/apps/list/hearing/financialsvcs_dem/cop121008.pdf
.
Chapter 14: 2008: Suicide by Democracy“Questions about the $700 Billion Emergency Economic Stabilization Funds: The First Report of the Congressional Oversight Panel for Economic Stabilization,” December 10, 2008,
www.house.gov/apps/list/hearing/financialsvcs_dem/cop121008.pdf
.
1
Dawn Kopecki, “Fannie, Freddie âInsolvent' after Losses, Poole Says,”
Bloomberg
, July 10, 2008,
www.bloomberg.com/apps/news?pid=20601087&sid=as4DEc5UFopA
.
Dawn Kopecki, “Fannie, Freddie âInsolvent' after Losses, Poole Says,”
Bloomberg
, July 10, 2008,
www.bloomberg.com/apps/news?pid=20601087&sid=as4DEc5UFopA
.
2
“Barney Frank on Bailouts, Welfare,”
60 Minutes
, CBS, December 14, 2008,
www.cbsnews.com/stories/2008/12/11/60minutes/main4663945.shtml
.
Chapter 15: The Fall of Bear Stearns“Barney Frank on Bailouts, Welfare,”
60 Minutes
, CBS, December 14, 2008,
www.cbsnews.com/stories/2008/12/11/60minutes/main4663945.shtml
.
1
Kate Kelly, “Lost Opportunities Haunt Final Days of Bear Stearns,”
Wall Street Journal
, May 27, 2008,
http://online.wsj.com/article/SB121184521826521301.html
Kate Kelly, “Lost Opportunities Haunt Final Days of Bear Stearns,”
Wall Street Journal
, May 27, 2008,
http://online.wsj.com/article/SB121184521826521301.html
2
Kate Kelly, “Bear CEO's Handling of Crisis Raises Issues,”
Wall Street Journal
, November 1, 2007,
http://online.wsj.com/article/SB119387369474078336.html
Kate Kelly, “Bear CEO's Handling of Crisis Raises Issues,”
Wall Street Journal
, November 1, 2007,
http://online.wsj.com/article/SB119387369474078336.html
3
Gregory Zuckerman, “Hedge Funds, Once a Windfall, Contribute to Bear's Downfall,”
Wall Street Journal
, March 17, 2008,
http://online.wsj.com/article/SB120571237393540313.html
Gregory Zuckerman, “Hedge Funds, Once a Windfall, Contribute to Bear's Downfall,”
Wall Street Journal
, March 17, 2008,
http://online.wsj.com/article/SB120571237393540313.html
4
David Einhorn, remarks at the Ira Sohn Investment Research Conference, May 21, 2008,
www.tilsonfunds.com/EinhornIraSohn08.pdf
.
David Einhorn, remarks at the Ira Sohn Investment Research Conference, May 21, 2008,
www.tilsonfunds.com/EinhornIraSohn08.pdf
.
5
Yalman Onaran and John Helyar, “Fuld Sought Buffett Offer He Refused as Lehman Sank,”
Bloomberg
, November 10, 2008,
www.bloomberg.com/apps/news?pid=newsarchive&sid=aMQJV3iJ5M8c
.
Yalman Onaran and John Helyar, “Fuld Sought Buffett Offer He Refused as Lehman Sank,”
Bloomberg
, November 10, 2008,
www.bloomberg.com/apps/news?pid=newsarchive&sid=aMQJV3iJ5M8c
.
6
Andrew Ackerman, “Court to Decide Fate of Lehman Contracts,”
Bond Buyer
, December 15, 2008,
www.bondbuyer.com/article.html?id=200812124023AG07
.
Andrew Ackerman, “Court to Decide Fate of Lehman Contracts,”
Bond Buyer
, December 15, 2008,
www.bondbuyer.com/article.html?id=200812124023AG07
.
7
Yalman Onaran, “Fed Aided Bear Stearns as Firm Faced Chapter 11, Bernanke Says,”
Bloomberg
, April 2, 2008,
www.bloomberg.com/apps/news?pid=20601087&refer=worldwide&sid=a7coicThgaEE
.
Chapter 16: Dot-Com Penis EnvyYalman Onaran, “Fed Aided Bear Stearns as Firm Faced Chapter 11, Bernanke Says,”
Bloomberg
, April 2, 2008,
www.bloomberg.com/apps/news?pid=20601087&refer=worldwide&sid=a7coicThgaEE
.
1
Mike Sunnucks and Chris Casacchia, “CEO Pay: What Those Involved in the Financial Meltdown Made,”
San Francisco Business Times
, September 23, 2008, (
The Puget Sound Business Journal
contributed to this story)
http://www.bizjournals.com/eastbay/stories/2008/09/22/daily37.html
.
Mike Sunnucks and Chris Casacchia, “CEO Pay: What Those Involved in the Financial Meltdown Made,”
San Francisco Business Times
, September 23, 2008, (
The Puget Sound Business Journal
contributed to this story)
http://www.bizjournals.com/eastbay/stories/2008/09/22/daily37.html
.
2
“Bailout Should Cut the Cords of Golden Parachutes,”
The Patriot Ledger
, Sep 23, 2008,
http://www.patriotledger.com/business/x804155672/OUR-OPINION-Bailout-should-cut-the-chords-of-golden-parachutes
“Bailout Should Cut the Cords of Golden Parachutes,”
The Patriot Ledger
, Sep 23, 2008,
http://www.patriotledger.com/business/x804155672/OUR-OPINION-Bailout-should-cut-the-chords-of-golden-parachutes
3
Steve Lohr, “In Bailout Furor, Wall Street Pay Becomes a Target,”
New York Times
, September 23, 2008,
http://www.nytimes.com/2008/09/24/business/24pay.html
.
Chapter 17: Year of the Bailout, Part I: The Notorious AIGSteve Lohr, “In Bailout Furor, Wall Street Pay Becomes a Target,”
New York Times
, September 23, 2008,
http://www.nytimes.com/2008/09/24/business/24pay.html
.
1
“AIG Ranks No. 1 in Financial Sector Capitalization,”
Insurance Journal
, December 4, 2000,
www.insurancejournal.com/news/national/2000/12/04/11570.htm
.
“AIG Ranks No. 1 in Financial Sector Capitalization,”
Insurance Journal
, December 4, 2000,
www.insurancejournal.com/news/national/2000/12/04/11570.htm
.
2
Robert O'Harrow Jr. and Brady Dennis, “The Beautiful Machine,”
Washington Post
, December 29, 2008,
www.washingtonpost.com/wp-dyn/content/article/2008/12/28/AR2008122801916.html?sid=ST2009013000235
.
Robert O'Harrow Jr. and Brady Dennis, “The Beautiful Machine,”
Washington Post
, December 29, 2008,
www.washingtonpost.com/wp-dyn/content/article/2008/12/28/AR2008122801916.html?sid=ST2009013000235
.
3
Robert O'Harrow Jr. and Brady Dennis, “Downgrades and Downfall,”
Washington Post
, December 31, 2008,
www.washingtonpost.com/wp-dyn/content/article/2008/12/30/AR2008123003431.html
.
Robert O'Harrow Jr. and Brady Dennis, “Downgrades and Downfall,”
Washington Post
, December 31, 2008,
www.washingtonpost.com/wp-dyn/content/article/2008/12/30/AR2008123003431.html
.
4
Gretchen Morgenson, “Behind Insurer's Crisis, Blind Eye to a Web of Risk,”
New York Times
, September 27, 2008,
www.nytimes.com/2008/09/28/business/28melt.html?pagewanted=all
.
Gretchen Morgenson, “Behind Insurer's Crisis, Blind Eye to a Web of Risk,”
New York Times
, September 27, 2008,
www.nytimes.com/2008/09/28/business/28melt.html?pagewanted=all
.
5
Michael de la Merced and Gretchen Morgenson, “A.I.G. Allowed to Borrow Money from Subsidiaries,”
New York Times
, September 14, 2008,
www.nytimes. com/2008/09/15/business/15aig.html
Michael de la Merced and Gretchen Morgenson, “A.I.G. Allowed to Borrow Money from Subsidiaries,”
New York Times
, September 14, 2008,
www.nytimes. com/2008/09/15/business/15aig.html
6
Brady Dennis and Robert O'Harrow Jr., “A Crack in the System,”
Washington Post
, December 30, 2008,
www.washingtonpost.com/wp-dyn/content/article/2008/12/29/AR2008122902670.html
.
Brady Dennis and Robert O'Harrow Jr., “A Crack in the System,”
Washington Post
, December 30, 2008,
www.washingtonpost.com/wp-dyn/content/article/2008/12/29/AR2008122902670.html
.
7
Ibid.
Ibid.
8
Mary Williams Walsh, “Tracking Firm Says Bets Placed on Lehman Have Been Quietly Settled,”
New York Times
, October 22, 2008,
www.nytimes.com/2008/10/23/business/23lehman.html
.
Mary Williams Walsh, “Tracking Firm Says Bets Placed on Lehman Have Been Quietly Settled,”
New York Times
, October 22, 2008,
www.nytimes.com/2008/10/23/business/23lehman.html
.
9
“Fusion IQ's Ritholtz Expects More Writedowns at AIG: Video,”
Bloomberg
, August 6, 2008,
www.bloomberg.com/apps/news?pid=newsarchive&sid=avZEKuMTaGME
.
“Fusion IQ's Ritholtz Expects More Writedowns at AIG: Video,”
Bloomberg
, August 6, 2008,
www.bloomberg.com/apps/news?pid=newsarchive&sid=avZEKuMTaGME
.
10
Shannon D. Harrington, “AIG, Lehman, Merrill Lead Rise in Financial-Company Bond Risk,”
Bloomberg
, September 12, 2008,
www.bloomberg.com/apps/news?pid=20601087&sid=avRzVWkrgoyE&
.
Shannon D. Harrington, “AIG, Lehman, Merrill Lead Rise in Financial-Company Bond Risk,”
Bloomberg
, September 12, 2008,
www.bloomberg.com/apps/news?pid=20601087&sid=avRzVWkrgoyE&
.
11
Ibid.
Ibid.
12
De la Merced and Morgenson, “A.I.G. Allowed.”
De la Merced and Morgenson, “A.I.G. Allowed.”
13
Aaron Task, “Bernanke: Mad as Hell about AIG, But Bailouts Averting âDisaster, ' ” Yahoo!, March 3, 2009,
http://bit.ly/QEK9O
.
Aaron Task, “Bernanke: Mad as Hell about AIG, But Bailouts Averting âDisaster, ' ” Yahoo!, March 3, 2009,
http://bit.ly/QEK9O
.
14
Ibid.
Ibid.
15
Ibid.
Chapter 18: The Year of the Bailout, Part II: Too Big to Succeed?Ibid.
1
William Safire, “Essay: Don't Bank on It,”
New York Times
, April 16, 1998,
www.nytimes.com/1998/04/16/opinion/essay-don-t-bank-on-it.html
.
William Safire, “Essay: Don't Bank on It,”
New York Times
, April 16, 1998,
www.nytimes.com/1998/04/16/opinion/essay-don-t-bank-on-it.html
.
2
Time line of Citibank history, Citibank North America web site,
www.citigroup.com/citi/corporate/history/citibank.htm
.
Time line of Citibank history, Citibank North America web site,
www.citigroup.com/citi/corporate/history/citibank.htm
.
3
Ibid.
Ibid.
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Untouched: a Cedar Cove Novella by Grace, Melody
Jim Henson’s The Dark Crystal Author Quest by J. M. Lee
Kipp The Kid by Paul Day
Final Masquerade by Cindy Davis
When Only Diamonds Will Do by Lindsay Armstrong
Game Without Rules by Michael Gilbert
Many Roads Home by Ann Somerville