The 1%
20

So How's the Art World Doing?

Chaos followed, as guests fought over pieces cut by the bare-chested pallbearers. “I want the breast! Give me the vagina!” they screamed, hardly noticing that Tilda Swinton had arrived for photo ops, looking very much like David Bowie in his Thin White Duke phase. When it was all over, the cut-up cakes resembled mutilated bodies that made for a ghoulish sight.

A man I didn’t know accosted me. “Is it me or was this all about violence against women?” he asked. “It’s you,” I said. “Look at that cake!” he exclaimed. “It’s a horribly mutilated woman with knives in her chest. Doesn’t that bother you?” “It’s a cake,” [...]

3

The 1% Don't Live in Traverse City

Anthony Ciccone (not to be confused with the, uh… (*puts one finger aside nose*) other one) is the tabloid tale of the weekend, being 1. Madonna's other brother (not the gay one who sold her out with that trashy memoir) and 2. homeless.

Anyway, it all sounds better in German: "Madonnas großer Bruder bettelt auf der Straße‎"! Or Italian: "Madonna lascia il fratello Anthony a vivere per strada"! Even French: "Le frère aîné de Madonna vit dans la rue." Oooh, la rue. But the original story is actually pretty great, with this headline: "Traverse City becomes magnet for the homeless: Madonna’s brother [...]

10

Missing $700 Million? Why Worry!

"Federal regulators have discovered that hundreds of millions of dollars in customer money has gone missing from MF Global in recent days, prompting an investigation into the brokerage firm….The recognition that money was missing scuttled at the 11th hour an agreement to sell a major part of MF Global to a rival brokerage firm. MF Global had staked its survival on completing the deal. Instead, the New York-based firm filed for bankruptcy on Monday…. The discovery that money could not be located might simply reflect sloppy internal controls at MF Global. It is still unclear where the money went. At first, as much as $950 million was believed to [...]

4

Rich People Actually Don't Understand Business Either

Remember how a former co-CEO of Goldman Sachs became governor of New Jersey and then became CEO of a derivatives brokerage that then had a $191.6 million quarterly loss (its fourth quarter of loss!) and was probably going to file for bankruptcy and was suspending from doing business by the Fed? Makes you think.