Bear Stearns 'Tokin' CEO

Those of you who are fortunate enough not to know what a CDO, CDO squared, or CDO cubed is may have missed the hilarious Wall Street Journal front page story that inventoried the transgressions of Bear Stearns beleaguered and beloved CEO, Jimmy Cayne. Weekday afternoons playing golf instead of managing risk. Ditching crisis management meetings for bridge tournaments. YAWN. Sounds like usual senior executive self-indulgence. But wait, what's this? In addition to being an avid golfer and bridge player, he was an avid dope smoker? (Thew NewsCorp influence on the Journal is already shining through.) For more on this developing story, check out this irreverent satirical editorial allegedly penned by Stephen Schwarzman (CEO of Blackstone, the private equity giant).

Global Incident Map

There's lots of bad stuff going on, and if you don't believe me, check out A Global Display of Terrorism And Other Suspicious Events.

How Blue Is Minnesota?

According to this article in The Hill, the Democrats think they have a legitimate shot at winning all 8 congressional seats in Minnesota in the 2008 election.

Minnesota Nice

A MarketWatch study of best metro centers for business ranks Minneapolis #1. Of course, MarketWatch has just figured out something Gopher Girl has always known.

"Minneapolis-St. Paul is where it's at when it comes to business, much more so than any other of the nation's major urban areas. The Twin Cities ranked at the top of a MarketWatch study on the nation's best metro centers for business, winning by a wide margin."

We'll Shop Our Way Out of This Mess!

This cannot be susainable:

Sept. 25 (Bloomberg) -- Consumer confidence fell more than forecast in September to the lowest level in almost two years, as declining home values, a deteriorating labor market and tougher borrowing standards took a toll on Americans' spirits. The Conference Board's index of confidence dropped to 99.8 from a revised 105.6 in August and workers were less optimistic about job prospects, the New York-based group said today. The report raises concern that the prolonged housing recession and tougher credit standards will put a brake on consumer spending, which accounts for more than two-thirds of the economy.

Minnesota State Bird?

Another reason to hate (and fear) mosquitoes:

Almost 270 people in Italy's province of Ravenna may have been infected with chikungunya, a virus that causes fever, rash and joint pain, since it arrived with a tourist three months ago. The outbreak was caused by the same viral strain that sickened about 235,000 people on Reunion island in the Indian Ocean last year, says an Italian virologist investigating the episode.

Now Italy is threatened by a contagious illness that may also spread elsewhere in Europe and North America the same way it got to Ravenna -- through an infected traveler. There were 2.1 billion airplane passengers last year, driving the spread of new diseases that are emerging at ``an unprecedented rate,'' the World Health Organization said last month.

A run on the bank in England

The Wall Street Journal describes a literal run on the bank today in England:

"Early Friday, Northern Rock customers queued outside at least one branch to withdraw their savings after the mortgage lender was forced to tap the Bank of England for emergency funds. Some savers had been concerned weeks ago about the possible fallout from the subprime lending crisis on the U.K. lender. In Kingston, England, a line began to form more than an hour before the Castle Street branch opened as concerns about the institution's liquidity unnerved savers. A staff meeting appeared to be taking place before doors were unlocked. Around 9:00 local time, the line outside contained about 30 people, but swelled to more than 70 within half an hour. Almost all were over 50 years old and retired. All planned to withdraw their cash."