This inside info on how Merrill operated looks bad:
Always carrying a notebook with his operations’ daily profit-and-loss statements, Mr. Semerci would chastise traders and other moneymakers who told risk management officials exactly what they were doing, a former senior Merrill executive said.
“There was no dissent,” said the former executive, who requested anonymity to maintain relationships on Wall Street. “So information never really traveled.”
Read the whole thing.
Bloomberg is good in polling actual taxpayers on what they think ought to happen to Wall Street bonuses.
“I may not understand everything, but I do understand common sense, and when you lend money to someone, you don’t want to see them at a new-car dealer the next day,” said Ken Karlson, a 61-year-old Vietnam veteran and freelance marketer in Wheaton, Illinois. “The bailout money shouldn’t have been given to them in the first place.”
Finally, look at this story in the Boulder Daily Camera last week about hawking two of the paper’s buildings. The publisher says “This decision has nothing to do with the Camera’s health.”
Sure, buddy. Check out this story—published the very next day.