G.Akerlof and P.Romer, “Looting: The Economic Underworld of Bankruptcy for Profit”
No abstract. From introduction:

Our theoretical analysis shows that an economics underground can come to life if firms have an incentive to go broke for profit at society’s expense (to loot) instead of to go for broke (to gamble on success). Bankruptcy for profit will occur if poor accounting, lax regulation, or low penalities for abuse give owners an incentive to pay themselves more than their firms are worth and then default on their debt obligations.

They review 4 cases, including the recent S&L crisis, and present a model to show how a little priming can affect prices in a real estate market, but don’t try to estimate returns. I think that’s there for anyone needing a topic.

It should also be evidence for impeachment, but why shout at the rain?

But yes, it’s the sort of thing that any kind of halfway decent media would have been all over.

Why this wasn’t repeated in the MSM a la “I did not have sex with that woman” remains beyond me…

This surprises you?

Hey dawgs!

“Now, by the way, any time you hear the United States government talking about wiretap, it requires — a wiretap requires a court order. Nothing has changed, by the way. When we’re talking about chasing down terrorists, we’re talking about getting a court order before we do so.”

Why this wasn’t repeated in the MSM a la “I did not have sex with that woman” remains beyond me…

People are cutting back big time and those lower rates are not getting them to buy nuttin.

Retail sales are tanking, auto sales are tanking, home sales are tanking, housing starts are tanking, businesses are folding, gas is going thru the ceiling.

As W says.. it’s a rough time in the economy.