Monthly Archives: September 2008

Editor’s blog: Peston’s New World Order

His Lloyds TSB/HBOS scoop gives him the double after getting the Northern Rock story first last year. Robert, an ex-MT columnist, has friends in very high places and is regarded as a safe pair of hands into which to let slip unpalatable news.

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Editor’s blog: Tin hat time

There are more questions than answers at the moment. What was it about AIG that made it an imperative for USauthorities to save it, whereas they allowed Lehman to go to the wall? Was it the potential systemic damage to the market? The cure for moral hazard, of letting AIG go bust, would be worstthan the cost of going to its aid.

What on earth was an insurance company like AIG doing up to its neck in all these dodgy, arcane derivitives which all began when they hired a bunch ofoperators back in the 80s from Drexel Burnham Lambert? Remember them?Several wound up in prison.

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Editor’s blog: Fear the wounded bear

Is it some Peckham posse member?Perhaps anassociate of Al Capone’s?No, it’s actually Russian PM Vladimir Putin. (He was, of course, referring to the Georgians who recently dared to defy him.)

And how about this for a 21st century head of state, the man just voted the world’s most powerful by Vanity Fair magazine: ‘If you want to become an Islamic radical and have yourself circumcised, I invite you to come to Moscow. I would recommend that he who does the surgery does it so you’ll have nothing growing back, afterwards.’ That’s the way Vlad did things when he was in the KGB, and that’s the way he likes them done now.

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Editor’s blog: Microsoft’s charm offensive

So Microsoft has called on Jerry Seinfeld to help make its image a little more cuddly. Its new TV ad featuring Seinfeld and Bill Gates in a shoe shop has just aired in the States and although Bill is not going to be getting an Emmy, it’s not bad. It’s the first time anyone will have associated with Microsoft with jokes.

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