I am going to do this in real time: I will add some links, and unless you see “Done” at the end, this will still be a work in progress.

• Top Paid Bank & Wall Street Executives (Bloomberg)
• Dan Gross: Will Europe Take America Down? (Slate)
• Treasury sells 1.5 billion Citi shares for $6.2 billion  (MarketWatch)
• Gold? Not a bubble. Yet. (Kedrosky)
Martin Wolf: The grasshoppers and the ants – a modern fable (FT)
• 25 Questions To Ask Anyone Who Believes The Economic Recovery Is Real (Black Listed News)
• California Leads States With Mortgage Interest Tax Deduction  (Real Time Economics)
• Fanboys Rejoice!: Apple Surpasses Microsoft in Market Cap (MarketBeat)
• BP America’s Twitter feed
• David Byrne sues FL gov over unauthorized use of “Road to Nowhere” in senate campaign ad (boingboing)
• The classic comedy AIRPLANE! is essentially a remake of the 1957 movie ZERO HOUR (YouTube).

Done!

What are you reading?

Category: Financial Press, Markets

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

25 Responses to “Wednesday Reading”

  1. VennData says:

    BP Attempts ‘Top Kill’ Method to Seal Oil Well in Gulf

    http://www.nytimes.com/2010/05/27/us/27spill.html?partner=rss&emc=rss

    …might the spew of clogging material be better aimed at the mouths of the “Drill, Baby, Drill” right wing nuts?

    Might the money, fines, trusts etc be better spent on solar panels and wind farms?

  2. Scott F says:

    Lehman’s Bankruptcy Estate Sues J.P. Morgan

    Lehman Brothers Holdings Inc.’s bankruptcy estate sued J.P. Morgan Chase & Co., alleging that J.P. Morgan illegally siphoned billions of dollars from Lehman in the days before the investment bank filed the largest bankruptcy in U.S. history.

    The lawsuit, filed Wednesday in U.S. Bankruptcy Court in New York, alleges that J.P. Morgan Chief Executive James Dimon and other top executives used inside knowledge to take advantage of Lehman as its financial state worsened. J.P. Morgan coerced Lehman to turn over $8.6 billion in collateral in September 2008, triggering a liquidity squeeze that contributed to Lehman’s collapse, the suit said. The estate is hoping to recoup billions in collateral the bank demanded, and other damages.

  3. Paul S says:

    Market STILL not oversold enough!

  4. bsneath says:

    Sorry, But The Story About China Dumping Eurozone Bonds Makes No Sense

    http://www.businessinsider.com/sorry-but-the-story-about-china-dumping-eurozone-bonds-makes-no-sense-2010-5?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+clusterstock+%28ClusterStock%29

    I suspect this is either a carrot (political cover) or a stick (“its your problem, now fix it”) to get the ECB to accelerate their PIGS bond purchases.

  5. EAR says:

    http://pragcap.com/bernankes-great-monetarist-gaffe

    “There is a much more important phenomenon occurring here which the economics textbooks don’t teach us about. And that is that monetary policy is ineffective when the private sector is paying down debt. If there is no demand for borrowing it doesn’t matter what interest rates are at.”

  6. TakBak04 says:

    BR.. I reading so much “Bad Stuf” and “Contrarian Stuff” that I’m flumoxxed! (SP) Whatever..I’m totally Over My HEAD!

    Small Investor Here….

    Not sure whether to Sell Out and Run for Exit….or put some dollars in.

    I know this stuff for US is not what your Blog is focused on. Frankly, it’s sad that only BIG PLAYERS are gaming.

    I guess I should be listening to Cramer’s RW Billy Bob’s and Sallys from his “”BOO…YAH, JIM!” Texas & PA RW’INGERS!

    Actually I think Cramer had managed to corral the Limbaugh/Beck Audience to hang on his every “Bi-Polar” screed.

    Doesn’t mean Cramer is wrong for 5% of his Screeds and sometimes he BLOWS IT OUT with a CALL…as long as you know he is a “Bi-Polar” (according to Todd Harrison at Minyonville.)

    So…..where are we?

    Stuff in Mattress and loser CD’s and MM’kts.

    BAD STUFF. Thanks for your Guidelines, BR!

  7. VennData says:

    Oh, the soft criminal justice system, where are some right wing investigative journalists to out the slap-on-the-wrist these felons ended up with?

    http://www.nytimes.com/2010/05/27/us/politics/27landrieu.html?partner=rss&emc=rss

  8. Evoo Kermartin says:

    This is a few months old but maybe a good idea with the Facebook privacy controversy:

    http://consumerist.com/2010/02/get-all-your-reports.html

  9. Seattle Chill says:

    The fact that Yun thinks rates will rise soon makes me want to back up the truck for Treasury STRIPS.

    OK, not really. But seriously, does that clown realize what 5.5% on the 1oY would do to the economy? The resultant “second leg down” in housing would make the “first leg down” seem more like a “toe-dip.”

  10. “Thomas “Tommy” Gold, the brilliant and controversial 20th century Viennese-born science figure and professor emeritus of astronomy at Cornell University, died at the age of 84 years eight months ago on June 22, 2004 at Cayuga Medical Center, Ithaca, N.Y., after a long battle with heart disease. His Cornell obituary states: “Gold’s reputation as a Renaissance man was surpassed only by his penchant for unconventional theories — from the origin of the universe to the source of petroleum. Few scientists ever attempt what Gold made a career of, staking their reputations on ideas that radically challenge the methods and assumptions of an entire discipline.” (1-2) Fortunately, Gold has left many writings for posterity, including ones available on his still-functioning homepage website (3) and his book titled “The Deep Hot Biosphere (2001), which no Barnes and Noble or Borders Booksellers in Chicagoland currently carry in their stores. (4)…”
    http://www.semp.us/publications/biot_reader.php?BiotID=182
    ~~
    “Researchers at KTH have been able to prove that the fossils of animals and plants are not necessary to generate raw oil and natural gas. This result is extremely radical as it means that it will be much easier to find these energy sources and that they may be located all over the world.

    “With the help of our research we even know where oil could be found in Sweden!” says Vladimir Kutcherov, Professor at the KTH Department of Energy Technology in Stockholm.

    Together with two research colleagues, Professor Kutcherov has simulated the process of pressure and heat that occurs naturally in the inner strata of the earth’s crust. This process generates hydrocarbons, the primary elements of oil and natural gas.

    According to Vladimir Kutcherov, these results are a clear indication that oil supplies are not drying up, which has long been feared by researchers and experts in the field…”
    http://www.kth.se/aktuellt/lattare-att-hitta-olja-1.43372?l=en_uk

    http://www.propublica.org/ion/blog/item/gulf-offshore-oil-regulators-blasted-for-reprehensible-ethical-lapses

  11. subscriptionblocker says:

    Not sure how I got here…but these are kinda timely:

    http://consumerist.com/2010/02/get-all-your-reports.html

    http://consumerist.com/2010/05/how-to-live-out-of-your-car.html

    Know any Wall Street banker creeps living out of their car?

  12. GZR says:

    Here is something that shoots holes in the Bankster’s need for big bonuses. All they really need is a productive purpose and a living wage (Hampton Style of course). Keyword: cognitive

    http://www.wimp.com/surprising motivation

  13. GZR says:

    GZRs are weak linkers

    scroll down to May 19 once you reach the page in the previous post

    http://www.wimp.com/surprisingmotivation/

  14. Michael M says:

    Gold quietly made new highs in CAN and EUR yesterday. Einhorn is buying more, expects inflation – and still shorting Moody’s:

    http://www.reuters.com/article/idUSN2623288920100526

    BTW, I just checked the date of the Dan Gross’ Newsweek “America’s Back” cover story. April 19. S&P500 topped April 23 on a closing basis and intraday April 26. Nice timing so far…

  15. Michael M says:

    Google Boosts Its Cash With In-House Trading
    http://preview.bloomberg.com/news/2010-05-27/google-in-house-bond-traders-swell-cash-hoard-with-ex-microsoft-treasurer.html

    So Google, having real time information on just about everything, plus thousands of ace programmers and more computing power than God is getting into trading. Hmmm.

  16. JSchmid says:

    Obama is really worried he is leading us into the 2nd great depression, yet he refuses to solve the problem the way the 1920 depression was solved.

    http://www.telegraph.co.uk/finance/economics/7769126/US-money-supply-plunges-at-1930s-pace-as-Obama-eyes-fresh-stimulus.html

  17. farmera1 says:

    http://www.shadowstats.com/alternate_data/money-supply-charts

    From shadowstats.com, M3 has been plunging for two years. Since the government can no longer afford to keep M3 stats, and since no body used M3 for anything, Britan and web sites seems to be the place to get the info.

    How the 1920s depression was solved, does that mean WWII, or FDR?

  18. GZR,

    That was very insightful

    Did you see this there?

    http://www.wimp.com/spacesaving/

    Although the concept is fascinating I’m not sure I like the message it sends….that is that we should be prepared to live in closets. My neighbors are already close enough….especially spiritually

  19. Greg0658 says:

    HtCMSIt – that was some cool modular furniture .. I’ll save it next to my cool tiny homes link – these sites should get together:
    http://www.tumbleweedhouses.com/

    on population .. 3B to 6B in my 50 years and that included some major wars (to me) .. if I’m still here at 75 will I see 12B? I think energy and food are more the issue than house size / except energy and materials built into the home size.