USA Today: There is, apparently, a scientific reason for the financial crisis: Testosterone. According to Scientific American, too much of it leads to irrational risk taking, ergo, housing crisis. Right.
Cancelled: Harvard Business Finance Club’s self-proclaimed “best party of the year,” the unfortunately named Predator’s Ball, has been canceled. At some point today the Web site for the event (which could be rebranded as something like Depressing Networking Event For Out Of Work Predators) was removed.
Dealzone: Speaking of poor taste, colleagues at Reuters want to know, where are all the good puns for this financial crisis? Apparently we journalists were knee deep in them for the Japanese bank failure. (We should really be posing that question to our friends in Japan, after the string of horrible puns Dealzone lists, I’d guess they’ve had jokes lined up for years.) And anyways, wasn’t Dealzone around for the Barclehs and Bank of AMerrillca comments?
Business Pundit: Outlines quite mathematically the way that college kids are smarter investors than we thought.
NY Post: I meant to blog about Huntsman and Hexion yesterday but didn’t get to it. Suffice it to say, this is going to be a very, very painful three-way forced marriage between the lenders, Deutsche and Credit Suisse, and Huntsman and Apollo/Hexion, that could even result in bankruptcy and yet another big loss for Apollo (following Linens N Things).
If Hexion can’t complete the takeover, the court said Hunstman can seek as much as $3 billion in damages from Hexion, which would drive Hexion into bankruptcy and wipe out Apollo’s $1 billion equity investment in the company.
Footnoted: There are plenty of generalized, accusatory reasons for why Main Street hates Wall Street, but Footnoted outlines a very clear and simple example: Sovereign Bancorp.