The Five Dumbest Things on Wall Street This Week

1. Dolans Unscripted

Dolan family madness is alive and well at Cablevision (CVC Quote).

The Bethpage, N.Y., cable-system operator fielded another buyout bid this week from Chairman Charles Dolan and CEO son James. They want to acquire the 77% of Cablevision they don't already own in a $7.9 billion deal.

The Dolans have been down this road before. They tried to take Cablevision's cable operation private in June 2005, but the convoluted deal fell apart last October in a dispute over terms. The Dolans then pushed Cablevision into a $10-a-share dividend -- but not before an embarrassing loan-covenant pratfall nearly scuppered the $3 billion payout. ...