From the New York Blotter
Paddy Hirsch here. Scott is out today and I’m doing my best to fill his shoes. My regular gig is editing Marketplace’s New York Bureau, which means I pitch all the Wall Street and New York stories at our morning meeting. It’s coming right up, and here’s what I’ll be looking for fresh angles on:
That 90% Bonus Tax
The tax was born out of popular rage against the $165 billion in bonuses paid out by AIG. How will a tax like that affect other banks’ business and retention? AIG. Do they deserve to be scourged in the same way? Will this bill be diluted in the Senate?
Dollar bounces back
The greenback took a pounding this week, when the Fed announced the ballooning of its balance sheet. But today its back up again — what’s driving it, and what difference does it make to you and I?
Rain or shine, the ratings agencies always seem to score.
Ratings agencies may have helped get us into this mess were in, but they’ll reap some big rewards from the TALF. Every bond issue made under the scheme has to be rated by at least one ratings agency. And ratings mean money. Oh yes, and bonuses.
Cheers to trustworthy journalism!
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