When Facebook’s IPO didn’t go as smoothly as planned, naysayers like Gizmodo predicted the company would start charging users.
Jest even made a hilarious commercial parody, describing all the ways the company could charge for services like “Facebook Gold” and “Facebook Platinum.”
But such a move would probably be more disastrous for Facebook than even its IPO was.
As NPR’s Chana Joffe-Walt reports, a similar thing happened 70 years ago when Red Cross charged soldiers for doughnuts and [...]
Huge New York law firm Dewey & LaBoeuf is about to shut down, after boss Steven Davis bankrupted the firm by giving lawyers multi-million dollar guarantees that the company couldn’t afford.
That was of course moronic:
Davis bet the firm and lost.
But Barry Ritholtz reminds us of another dumb mistake the firm made:
It didn’t borrow hundreds of billions of dollars from pension funds, insurance companies, and other investors and use the money to make a lot of idiotic loans and [...]
“Monetary policy cannot fulfill each and every market expectation.”
So said the head of the Bundesbank, Jens Weidmann.
Why not, investors want to know.
Mr. Weidmann was talking to The Wall Street Journal. He was explaining why Germany was sticking to its guns. They don’t use that expression in Germany. But you know what he meant.
“The crisis can be solved only by embarking on often-painful structural reforms,” he insisted. “If policy makers think they [...]
The number given out in jest by Sandusky’s attorney prompts the following message:
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