6500: Insuring Failure.

Bad profits and politics in a MultiCultClassics Monologue…

• Insurance behemoth AIG reported 4Q losses at $61.7 billion, the largest loss in U.S. corporate history. What’s the prize for such an honor? More federal bailout loot.

• Wendy’s/Arby’s reported 4Q losses at $393.2 million. That’s waaaaay better than AIG.

• A local New York chapter of the NAACP is fired up over a Staten Island Community Education Council appointee who forwarded a racist email. The email featured images from the last presidential debate between Barack Obama and John McCain, with word balloons depicting a discussion filled with racist jokes. “It was a political cartoon,” said the appointee. “It was a joke, and I treated it as such.” Actually, this guy’s a racist joke.