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    There is only a single categorical imperative and it is this: Act only on that maxim through which you can at the same time will that it should become a universal law.
    Immanuel Kant

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    unfuckingbelievable

    I tried to post on this yesterday, but Li’l Kim clogged my intertoobz:

    July 8 (Bloomberg) — Morgan Stanley plans to repackage a downgraded collateralized debt obligation backed by leveraged loans into new securities with AAA ratings in the first transaction of its kind, said two people familiar with the sale.

    Morgan Stanley is selling $87.1 million of securities that it expects to receive top AAA ratings [...]



    Adult Supervision is Returning to Wall Street

    So says our Representative Brian Baird and I quote him from a link to a story in my earlier article:

    Baird said the legislation also will prevent executives who presided over the financial crisis from reaping huge salaries and bonuses.

    “Any company that chooses to participate in the program will not be able to offer their departing executives exorbitant severance packages,” he said. “In companies where the [...]



    pissing down on all of us

    On the day that the first of the bailout dollars are to be disbursed, we learn this:

    Oct. 27 (Bloomberg) — Five straight quarters of losses and a 70 percent slide in its stock this year haven’t stopped Merrill Lynch & Co. from allocating about $6.7 billion to pay bonuses.

    Goldman Sachs Group Inc. and Morgan Stanley, both still on track for profitable years, have set aside [...]