The seat’s hot and he ain’t even in it yet: Bank of America’s chief risk officer, Greg Curl, considered a leading candidate to succeed Ken Lewis as CEO, is under investigation by the New York attorney general for his role in what BofA shareholders were and weren’t told about the bank’s acquisition of Merrill Lynch.
Your incompetence. Let me show you it: Former Fed Chairman Paul Volcker calls for the return of Glass-Steagall and tells the Wall Street Journal’s Future of Finance Initiative, a group of financiers and policy makers, “Your response [to the economic crisis], I can only say, is inadequate. You have not come anywhere close.”
Quote of the day, also from Volcker at this session: “I wish somebody would give me some shred of evidence linking financial innovation with a benefit to the economy.” For good measure, he said the best financial innovation of the past 25 years was the ATM. (Which actually was introduced earlier … but, hey, forget it, he’s rolling.)
Bonus quote of the day, from Gavin M. at Sadly, No!, characterizing hinky academic Stanley Fish: ” …oleoresinous of eye, exuding cheap 1970s tenure …”
Congressman Alan Grayson to Fed Chair Ben Bernanke: Dude, you’re screwing the taxpayers directly AND committing tax fraud!
Oh, snap!: Dick Cheney (laughably) claims trying terrorism suspects in New York will generate more terrorism and calls it treason, so Alan Grayson tells him to “STFU.” This will give Official Washington another case of the vapors, but when Cheney himself once told a senator on the Senate floor to “go [have sex with] yourself,” he really has no room to whine and neither does anyone else.
Crying poor: AIG’s general counsel is leaving because she can’t make it on $500,000 a year. Given her track record of driving companies into ditches, I’m sure she’ll be snapped up in no time. And, yes, I’m being snarky — twelve digits’ worth of my tax money going into AIG in one year entitles me — but, no, I’m not being snarky about her getting snapped up in no time.
“Extreme victimisation,” but not in the way he thinks: Britain slaps a 50% tax on bankers’ bonuses. Will the U.S. follow suit?
Memo to Howard Kurtz: There’s a reason we call you Howie the Putz. And you’re soaking in it.
Well, yeah, if, by “socialism,” he means “a scary word that conservative wankers scream to try to scare people”: Charles Krauthammer calls environmentalism “the new socialism.”
Well, the federal government can just rock *me* to sleep tonight: The TSA posts some of its most sensitive security information on the Internet. But let’s talk about White House party crashers. Or Tiger Woods.
Sauce for the goose other gander: Paul Wolfowitz lost his job for trying to line up a job for his girlfriend. Will Max Baucus?
Zero tolerance for zero tolerance: Confronted with indisputable evidence of an on-screen error, Fox News decides to abandon its zero-tolerance policy for on-screen errors.
Sarah Palin, Woman of the Year?: Pollak says it could happen.