Tuesday Reads
Tuesday afternoon links:
• Targeting short-sellers attempts to shift the blame from the true culprits (Barron’s)
• Harvard’s Rogoff Sees Sovereign Defaults, ‘Painful’ Austerity (Bloomberg)• Smackdown: Tim Geithner in Vogue vs Sheila Bair in The New Yorker
• Horrid Job Number Coming (Floyd Norris)
• Q4 2009 Brought Still More Declines in State Tax Revenue (Nelson A. Rockefeller Institute of Government)
• Wall Street Bonuses Rise 17% (WSJ)
• Coldwell Banker Survey Identifies Multi-Generational Homes as a Trend in Real Estate (Marketwire)
• What the PBoC cannot do with its reserves (China Financial Markets)
• The Lomborg Deception: Debunking the claims of the climate-change skeptic (Newsweek)
• The Mariana Trench To Scale [Pic]
What are you reading ?
Tweet
Facebook
Reddit
Digg this!
February 23rd, 2010 at 3:42 pm
Hey BR got these 2 links from nakedcapitalism and they’re awesome! Headlines are NC’s
COULD IT BE THAT THE BEST CHANCE TO SAVE A YOUNG FAMILY FROM FORECLOSURE IS A 28-YEAR-OLD PAKISTANI AMERICAN PLAYRIGHT-SLASH-ATTORNEY WHO LEARNED BANKRUPTCY LAW ON THE INTERNET
http://www.mcsweeneys.net/links/panoramaexcerpts/Ali.html
and
The doomsday cycle Peter Boone, Simon Johnson
http://www.voxeu.org/index.php?q=node/4659
February 23rd, 2010 at 3:43 pm
“The Shadow Elite” – last chapter.
Y’all should, too.
February 23rd, 2010 at 4:06 pm
the trench isht is awesome…
February 23rd, 2010 at 4:18 pm
Another spin on the latest Goldman – AIG – NYFed revelations -
http://neweconomicperspectives.blogspot.com/2010/02/worst-revelation-yet-in-on-going.html
At some point, this story has to hit Prime Time. Visualize a shot of Geithner getting led off in handcuffs for perjury in his congressional testimony. By tacitly supporting the coverup, this has become Obama’s legacy.
February 23rd, 2010 at 4:21 pm
bank pr war? or how happy can they be that GS exists?
http://baselinescenario.com/2010/02/23/the-pr-war/
and when we will really fix it so we don’t have to deal with TBTF as gnats?
http://baselinescenario.com/2010/02/23/prospects-for-financial-reform/
and big banks are expensive too!
http://baselinescenario.com/2010/02/22/big-banks-are-more-expensive/
February 23rd, 2010 at 4:25 pm
who pays the cost for recession?
http://economistsview.typepad.com/economistsview/2010/02/who-pays-the-costs-of-the-recession.html
February 23rd, 2010 at 4:50 pm
The LA Times has done some excellent investigative journalism lately. They exposed the fact that Anthem/Blue Cross transferred $4 billion of insurance premiums to Wellpoint (parent company), and then claimed that premiums had to be raised due to the shortfall!
http://www.latimes.com/business/la-fi-anthem-cash23-2010feb23,0,1654480.story
February 23rd, 2010 at 5:27 pm
One day, BCBS of Alabama is going to have to fess up for its monopolistic behavior in Alabama, and probably other places too.
Just a follow up to franklin411…
February 23rd, 2010 at 5:33 pm
California’s Insurance commissioner is giving Anthem/Blue Cross an anal exam of epic proportions because of their rate shenanigans!
link
February 23rd, 2010 at 5:54 pm
Why are there so few new jobs being created? It’s a lack of anti-trust enforcement.
http://www.washingtonmonthly.com/features/2010/1003.lynn-longman.html
February 23rd, 2010 at 6:14 pm
maybe reason for the low consumer confidence …you think maybe?
http://www.gallup.com/poll/126122/Six-Underemployed-Not-Hopeful-Finding-Work.aspx
February 23rd, 2010 at 6:29 pm
@willid3
Consumer confidence went from a 1 yr high to a 1 yr low in about 3 weeks. The trend has been higher in confidence, so today’s # is just an outlier that tells us nothing. Unless people believe that high unemployment is a problem that only began 3 weeks ago. :)
February 23rd, 2010 at 6:33 pm
Well considering the costs and disruption to the economy due to natural disasters like Katrina and any potential earthquake that will undoubtedly visit our well-known *hot spots* ,especially the epicenter of what is euphemistically referred to as *The Big One” , I believe this article worth keeping in mind as we continue to wallolw in the joys of this integrated one world marketplace. The dark side of the coin is *One World Liabilities* with no place for capital to hide really.( That is unless there’s Goldman-Sachsian derivatives-based counter bet/play against massive insurance defaults and U.S. taxpayer bares another round of bailouts. )
“Under the world’s greatest cities, deadly plates”
http://www.washingtonpost.com/wp-dyn/content/article/2010/02/22/AR2010022204828.html?wpisrc=nl_pmheadline
February 23rd, 2010 at 7:11 pm
Not out of the question
‘Death of American Capitalism:’ The 10 final scenes
http://www.marketwatch.com/story/death-of-us-capitalism-the-final-10-scenes-2010-02-23?pagenumber=1
February 23rd, 2010 at 7:12 pm
Latest Wall Street product….now you can bet on movies! Is it too late to buy Avatar call options?
http://www.cbsnews.com/stories/2010/02/23/entertainment/main6235935.shtml
February 23rd, 2010 at 7:34 pm
Using Facebook or Twitter ‘could raise your insurance premiums by 10pc’
People who use social media websites such as Twitter and Facebook have been warned that they could eventually face rises in their home insurance premiums of as much as 10pc.
On the flip-side, gracias “persistant surveillance”, makes it easier for the Stadt’s Jackboots to exercise their ‘No-Knock’ ~Warrants..
~~
~~
New York Times Publishes Column By War Machine Employee Demanding US Stop Thinking About All The Innocent Afghans Killed And Ramp The Fuck Up The Bombing
“Glenn Greenwald of Salon uncovers a brutal mindfuck of gruesome pro-civilian bombing positive influence in the pages of the New York Times. A defence corporation employee demands the US blow more money terror bombing the civilian populace of Afghanistan.
New York Times column excerpt :
So in a modern refashioning of the obvious — that war is harmful to civilian populations — the United States military has begun basing doctrine on the premise that dead civilians are harmful to the conduct of war. The trouble is, no past war has ever supplied compelling proof of that claim. . . .”
“All the News, That’s Fit to Print.” — you betcha!
February 23rd, 2010 at 8:01 pm
Get Shorty: A Loser’s Answer
By RANDALL W. FORSYTH
http://online.barrons.com/article/SB126685132556549771.html
(may require a subscription – I don’t know)
I find it particularly apropos on the eve of the SEC’s Open Meeting tomorrow to decide on the proposed amendments to Reg. SHO that would restrict short selling of U.S. securities. Regardless of your view on short selling (which I favor), this bears watching.
http://www.sec.gov/news/openmeetings/2010/agenda022410.htm
~~~
BR: you may have noticed that was linked above but under the sub headline !
February 23rd, 2010 at 8:04 pm
Doh … just realized this was BR’s first link. Somehow, I missed that.
February 23rd, 2010 at 8:21 pm
We’re in the midst of a 21st Century breakdown.
http://theburningplatform.com/economy/21st-century-breakdown
February 23rd, 2010 at 9:51 pm
While the Trench graphic was certainly interesting, I was frankly riveted by a video clip on the same site showing a young woman attempting to crush a watermelon between her thighs. High drama indeed. Would she succeed? Would she incur some debilitating thigh injury? Would the required pressures transform a watermelon seed into a dangerous projectile and possibly blind the budding athlete? You’ll have to tune-in to find out….
This sport needs to be in the Summer Games! Watermelons, pumpkings, acorn squash……The mind reels!
February 23rd, 2010 at 10:17 pm
Not so much as reading but watching:
http://abcnews.go.com/Business/fullpage?id=9549471
I don’t recall seeing it here before but a scary image as it plays out…….
February 23rd, 2010 at 10:34 pm
West Not Recovering, Bond Crisis on the Way
http://www.cnbc.com/id/35537405
February 24th, 2010 at 1:43 am
The Vogue piece on Geithner reads like a press release wet dream. Wow, turns out he is just a normal Joe trying to save the world from the evils of Bankers. Thank God, we have Timmy to protect us.
February 24th, 2010 at 6:40 am
Buffett’s ‘Dangerous Business’ Grips Bond Insurers
http://www.bloomberg.com/apps/news?pid=20601109&sid=a8ChhVLkubxA&pos=11
“It is a worst-case scenario if the dynamics of the municipal bond market change,” said Rob Haines, an analyst who covers the bond insurance business at CreditSights Inc., an independent research firm in New York. “The companies have modeled in virtually no losses.”
Ambac, MBIA Inc. and Assured Guaranty, the three largest bond insurers, have set aside 0.04 percent of the total public finance debt they insure, or $520 million, to pay claims on municipal securities, according to regulatory filings by the companies.
February 24th, 2010 at 7:59 pm
TO ALL THE EEJITS COMPLAINING ABOUT THE Lomborg Deception:
Y’all seem to be laboring under the misconception that I have an obligation to do anything — first, get THAT foolish idea out of your heads.
Second, I have a ZERO TOLERANCE policy for those who engage in AGNOTOLOGY — your denialist pals are in the FUD business — they perpetrate too much UNTRUTH for me to not know them as liars.
Its like learning to catch someone who cheats at cards — I don’t have to SEE THEM CHEAT to know they wont be sitting at my poker table.
Last, I have way too much math/physics/logic/scientific method/deductive reasoning to buy into the denialist nonsense that so many ignant people have. Again, it s matter of recognizing bullshit for what it is
HERE IS THE FUNNY THING: This is not my issue –I dont really care about it — My cars are V12s thru a V8 and high output 6s — I race at Lime Rock and have a powerboat. AND I dislike the deniers anyway, for I recognize them as the liars they are . . .
Save the emails, I just mark the deniers as spam.