2014's fast food atrocities
Burger King's black cheeseburger: Made with squid ink and bamboo charcoal, arguably a symbol of meat's destructive effect on the planet. Only available in Japan.
How much worse can the handling of the AIG “backdoor bailout” of late 2008 begin to smell? Bloomberg has a new story reporting that representatives of the Federal Reserve Bank of New York, which at the time was helmed by Timothy Geithner, told AIG not to reveal the names of the counterparties that the insurance company owed billions of dollars to — debts that ended up getting made good at 100 cents on the dollar with taxpayer money. Even worse, Bloomberg has e-mails in which AIG noted to the Fed that their understanding of SEC regulations required them to make the names public, and the Fed still told the company to keep quiet.
Unamused commentators are rightfully scornful of the response provided to Bloomberg by the Fed.
“Our position has always been that if AIG’s securities lawyers determine that AIG is legally obligated to make a particular filing or disclosure, then that is what AIG must do,” said Jack Gutt, a spokesman for the New York Fed, in an e-mailed statement. Gutt said it was appropriate for the New York Fed, as party to deals outlined in the filings, “to provide comments on a number of issues, including disclosures, with the understanding that the final decision rested with AIG’s securities counsel.”
Horse-pucky. Remember — the justification for bailing out AIG’s swap debts to the likes of Goldman Sachs and others was based of the premise of preventing further shocks to an already reeling financial system. Fair enough, and given the widespread panic in the fall of 2008, and the huge time pressures that everyone was working under, some mistakes can be forgiven. But what seems clear from the Bloomberg report is that the Fed knew that there would be negative political fallout if the identities of AIG’s counterparties were made public, and it explicitly encouraged AIG to, at the very least, skirt the edges of legality. That’s no mistake.
Domino's Specialty Chicken: It's like regular pizza, except instead of a crust, there's fried chicken. The company's marketing officer calls it "one of the most creative, innovative menu items we have ever had” -- brain power put to good use.
KFC'S ZINGER DOUBLE DOWN KING: A sandwich made by adding a burger patty to the infamous chicken-instead-of-buns creation can only be described using all caps. NO BUN ALL MEAT. Only available in South Korea.
Taco Bell's Waffle Taco: It took two years for Taco Bell to develop this waffle folded in the shape of a taco, the stand-out star of its new breakfast menu.
Krispy Kreme Triple Cheeseburger: Only attendees at the San Diego County Fair were given the opportunity to taste the official version of this donut-hamburger-heart attack combo. The rest of America has reasonable odds of not dropping dead tomorrow.
Taco Bell's Quesarito: A burrito wrapped in a quesadilla inside an enigma. Quarantined to one store in Oklahoma City.