They've got muck; we've got rakes. TPM Muckraker

The Daily Muck

  • New York Fed chairman Steve Friedman resigned abruptly yesterday after his trades of Goldman Sachs stock were reported earlier this week. [NYT]

  • Big numbers, then: Friedman and Bob Rubin created a stir in 1992, when the Journal disclosed that they both received more than $15 million in 1991 pay. [WSJ]

  • Big numbers, now: banks need $75 billion more capital now, $600 billion under a "more adverse scenario." [The Big Money]

  • But AIG loss is smallest in six quarters! [WSJ]

  • Receiver says financial crimes of Danny Pang, the mini-Madoff with the made-up MBA, Chinese government connections, staff Disney cruise and mysteriously assassinated wife "may rise to the level of theft." [WSJ]

  • Cuomo's next big probe: those companies constantly harrassing you (or is that just us?) about their "debt settlement" services. [Marketwatch]

  • Like this 22-year-old San Diego woman's "cruel and sophisticated" loan modification scam? [Courthouse News Service]

  • Credit default swaps on US government bonds have hit new post-crisis lows. [Zerohedge]