How about this for effort? AIG reported this morning that it managed to lose $61.7 billion in the fourth quarter of 2008. Here’s the New York Times report: A.I.G. Reports Loss of $61.7 Billion as U.S. Gives More Aid Think about that. $61.7 billion in one quarter. Astonishing. Floyd Norris, also at the NYT, has […]

After having a few days away from the news it would be nice to return to some good tidings. But no. Last week’s GDP announcement shows that all our worst expectations are correct. Here’s the government press release: GDP Declines Sharply There is not much to say about this since it is self evidently awful. […]

I know I gave you this link before, but I think this news warrants its own entry. GM reported a horrible fourth quarter loss. Here’s the New York Times link again: G.M. Loses $9.6 Billion; Wagoner Back in Washington The loss is bad enough, but the truly eye catching number is the use of cash […]