Wednesday
Jan182012
Michael Lewis On Ireland: Do What Iceland Did, Screw The Feckin' Bondholders
Video - Michael Lewis with Tom Keene
A great short clip that exposes the madness of bailing out reckless bondholders.
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Jan 18, 2012 at 11:39 AM
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Reader Comments (4)
Thomas Jefferson's "Swiss Army Knife" - picture through glass
http://www.hedgefund.net/publicnews/default.aspx?story=12217
http://www.bostonherald.com/business/general/view/2011_0214former_anglo_irish_bank_ceo_grilled_on_money_transfers/srvc=home&position=recent
[snip]
Former Anglo Irish Bank CEO David Drumm — who’s been hiding out in Wellesley and Chatham since his bank, and the Irish economy, collapsed in 2008 — spent Valentine’s Day morning trying to explain millions of dollars in bank transfers among accounts held by him and his wife.
During the two-hour hearing at the 1 Beacon St. offices of law firm Murphy & King, Drumm repeatedly drew a blank on several huge sums of money moved into and out of 20 to 25 bank accounts in the name of Drumm or his wife, Lorraine. For example, Drumm couldn’t remember the source of $1.9 million transferred into one of those accounts, at Boston Private Wealth Management Group in 2009, but told bankruptcy trustee Kathleen Dwyer he’d work on finding out