Dec. 28, 2008

Dec. 28, 2008—Did you hear the one about the stockbroker who’s been sleeping like a baby? Every hour, he wakes up and cries. That was before he read that Somali pirates were issuing a new ransom-backed security to buy Citigroup. Moody’s rated it AAA, Henry M. Paulson Jr. deemed the pirates “fundamentally sound,” and Bernard L. Madoff will safeguard the returns. NYT