April 16, 2010

Quote of the Day: Vampire Squid Edition

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From Goldman Sachs vice president Fabrice Tourre, on January 23, 2007, as he was in the process of putting together a CDO offering that was specifically designed to implode:

More and more leverage in the system, The whole building is about to collapse anytime now…Only potential survivor, the fabulous Fab[rice Tourre]…standing in the middle of all these complex, highly leveraged, exotic trades he created without necessarily understanding all of the implications of those monstruosities!!!

Well, I guess he understands the implications now.

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DECEMBER IS MAKE OR BREAK

A full one-third of our annual fundraising comes in this month alone. That’s risky, because a strong December means our newsroom is on the beat and reporting at full strength—but a weak one means budget cuts and hard choices ahead.

With only days left until December 31, we've raised about half of our $400,000 goal—but we need a huge surge in reader support to close the remaining gap. Whether you've given before or this is your first time, your contribution right now matters.

Managing an independent, nonprofit newsroom is staggeringly hard. There’s no cushion in our budget—no backup revenue, no corporate safety net. We can’t afford to fall short, and we can’t rely on corporations or deep-pocketed interests to fund the fierce, investigative journalism Mother Jones exists to do. That’s why we need you right now. Please chip in to help close the gap.

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