The case for bonuses: "The answer is the one given by the Tory leader David Cameron today, which is that if taxpayers hadn’t rescued those banks then those employees wouldn’t have jobs, let alone bonuses."
CNBC vs. Barrons: The Complete Cramer Pissing Match: Another one of those battles you wish both sides could lose. In this case, it seems as though CNBC comes off slightly less badly, although it’s close.
Time to Hang Up the Pajamas: Dan Lyons on why blogs don’t make money. "Last year the total spent on blog advertising in the United States was a mere $411 million, according to researcher eMarketer. That represents only a sliver of the $23.7 billion spent on U.S. Internet ads last year… More money was spent on e-mail advertising last year than was spent on blog advertising—yet you don’t see anyone touting e-mail as the next big billion-dollar media business."
Subcomittee on Financial Services Accepts Surprise Testimony by Bernie Madoff: Hell, if he’s going to plead guilty, why not?