Random musing: slip in the bad news now

By Edward Harrison On Sep 8, 2008

While everybody’s focused on the ‘good’ news about the Fannie-Freddie bailout and they are partying like it’s 1999, it might be a good time to slip in that bad news you were going to announce next week.

Let’s see if any company is crafty enough to do it. Hey, maybe a politician could do it too.

Edward Harrison 7783 posts 575 comments

Edward Harrison is a senior Editor at Bloomberg. He is also the founder of Credit Writedowns newsletter, a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.

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3 Comments

pej says 16 years ago

Which bad news? For the past 6 months, I have only heard good news!!
Edward Harrison says 16 years ago

how about the Bush administration? They did manage to slip this one in:

Bush Suspends Proposed Commercial Nuclear Accord With Russia – Bloomberg

Nice one, eh? You have to respect their craftiness.
pej says 16 years ago

ohoh! Christmas might be permanent this year, if they manager to create a nuclear winter. Anyway, I don't know if you should laugh or cry. What has happened to the US??

BTW, you should watch the MSNBC interview of Henry Paulson. The guy manages to speak for 15minutes without giving a single full sentence, a single opinion, and without making any sense at all. I hope they will publish the transcript, I will print it and frame it.

$300 billion, minimum expenditure in Fannie, and he tries to explain that Mr Tax Payer will not lose a single dollar in the deal.

this one is made me laugh until I had tears in my eyes:

Under the terms of his employment contract, Daniel H. Mudd, the departing head of Fannie Mae, stands to collect $9.3 million in severance pay, retirement benefits and deferred compensation, provided his dismissal is deemed to be “without cause,” according to an analysis by the consulting firm James F. Reda & Associates. Mr. Mudd has already taken home $12.4 million in cash compensation and stock option gains since becoming chief executive in 2004, according to an analysis by Equilar, an executive pay research firm. Richard F. Syron, the departing chief executive of Freddie Mac, could receive an exit package of at least $14.1 million, largely because of a clause added to his employment contract in mid-July as his company’s troubles deepened. He has taken home $17.1 million in pay and stock option gains since becoming chief executive in 2003. – NY Times

https://www.nytimes.com/2008/09/08/business/08scorecard.html

instead of being sent to jail for fraud and having all his assets confiscated, he is offered about $10 000 000

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