The Bottom Line
Cut to the chase, my brother; speak on it!
The Minyanville take daily on news, commentary and opinion from around the world:
In a Securities and Exchange Commission filing, Fannie Mae (FNM) said it won't be able to file its 2005 financial report on time. The company noted it has discovered additional errors related to accounting that may lead it to restate $11 billion in earnings.
- Bottom Line: When the counting gets tough, the tough get... an abacus?
An estimated 380 hedge funds with assets in excess of $150bn call Greenwich, CT home, making it the "Hedge Fund Capital of the World," according to the Finanical Times. "In hedge fund parlance, if Greenwich were a stock, would its lofty valuation make it a good candidate to sell short?"
- Bottom Line: Short Greenwich, long Detroit in a pairs trade?
Welcome to Greenwich!
Median Household Income $99,086
Welcome to Detroit!
Median Household Income $27,871
To teach fact-finding skills, professors at the University of Minnesota have turned the fantasy computer game "Neverwinter Nights" into a tool for journalism students, according to the Associated Press. "Initial plans were to have a crowd of game characters milling about [for reporters to question], but because of a software bug any time a player approached a group of people, he was immediately attacked and killed."
- Bottom Line: No comment. Was: Let me think about it while I open up this can of whoop ass.
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