peHUB Second Opinion 10.8.08

Scandalous: AIG spent almost half a million on a luxurious party just days after the firm asked for its bailout. Not great news to surface on the day it asks for more bailing out. And certainly not good news for diminishing that whole “Wall Street Fat Cat Thing…”

Just Wow: The Times Square national debt counter has run out of spaces. See how they squeezed the one in with the dollar sign?

Chris O’Brien: We should be happy the IPO market is what it is. If not, the valley could be as bad off as Wall Street, right now, he argues. “So it’s bad. And getting worse. But it would be an even bigger disaster if IPO mania had returned,” he writes.

Talking Taxes: Obama and McCain’s Tax plans, broken down in specific terms like I haven’t seen before. Thanks, Business Pundit.

PEC: Apparently the Government Accountability Office issued a report yesterday, which stated that private equity, is, in fact not evil, and strengthens the financial performance of companies. Naturally, PEC approves.

Footnoted: Details on the battle over Lehman’s art collection.

No Discount: Looks like Saks’ suitor will retreat into the cold dark night-Iceland’s Baugar has retracted its bid after going belly up.

Clearance Rack: Linen’s ‘N Things will no longer sell linens or things. The Apollo-backed company has asked permission to liquidate.

We’re Running Out Of Words: Now that everyone has dulled to words like “panic” and “crisis,” how to we convey that things just keep getting worse? Superpanic? Dealbook says the technical term we’re looking for here is “negative feeback loop.”