10 Thursday PM Reads
Through the miracle of Instapaper, here is my afternoon train reading:
• S&P 500 Extends Best Month Since ’74, Euro Rises on Debt Accord (Bloomberg)
• So, About That Insurance You Bought on Greek Debt… (WSJ)
• Investors: Doing yourself a favor by doing less (Abnormal Returns)
• Mr. Hoenig Goes to Washington (Economix) see also Fed Ties Purse Strings of Banks (WSJ)
• Vatican Decries Financial Excesses (Consortium News) see also Millionaires Support Warren Buffett’s Tax on the Rich (WSJ)
• David Graeber, the Anti-Leader of Occupy Wall Street (Businessweek)
• Occupy Wall Street vs. The Tea Party (How Conservatives Drove Me Away) see also The Conservatism of Occupy Wall Street (Concurring Opinions)
• Why Economic Models Are Always Wrong (Scientific American)
• Frank Gehry Turns to Asia for Architecture Projects as U.S. Growth Slows (Bloomberg)
• Apple Planning Solar Farm For Largest Data Center (TPM) see also Annals Of Business – Xerox PARC, Apple, and the truth about innovation. (Gladwell)
What are you reading?
Tweet
Facebook
Reddit
Digg this!
October 27th, 2011 at 5:31 pm
Abnormal Returns From the Common Stock Investments of Members of the U.S. House of Representatives
http://www.bepress.com/bap/vol13/iss1/art4/
October 27th, 2011 at 5:51 pm
Transatlantic cable built to shave 5 milliseconds off stock trades
http://www.popularmechanics.com/technology/engineering/infrastructure/a-transatlantic-cable-to-shave-5-milliseconds-off-stock-trades
October 27th, 2011 at 6:29 pm
Our preznint is only tryin’ a hep:
http://www.businessinsider.com/obamas-re-fi-plan-the-perfection-of-debt-serfdom-2011-10
and, ya know all that hoopla because the euro-plan is on track? Well don’t get your hopes up:
http://seekingalpha.com/article/302290-germany-is-already-printing-money-deutsche-marks
better start stockin’ up:
http://blogs.wsj.com/economics/2011/10/27/spending-and-depression-arent-mutually-exclusive/
Humans are so good at learning lessons, as demonstrated by the “best and brightest”:
http://globalresearch.ca/index.php?context=va&aid=27279
Swag: THAT cable bill will really be something, eh?
October 27th, 2011 at 6:42 pm
Don’t need any anthropologists just the bible:
25 ” If you lend money to any of My people who are poor among you, you shall not be like a moneylender to him; you shall not charge him interest.
26 “If you ever take your neighbor’s garment as a pledge, you shall return it to him before the sun goes down.
27 “For that is his only covering, it is his garment for his skin. What will he sleep in? And it will be that when he cries to Me, I will hear, for I am gracious. (Exodus 22:25-27)
—————-
35 ‘ If one of your brethren becomes poor, and falls into poverty among you, then you shall help him, like a stranger or a sojourner, that he may live with you.
36 ‘Take no usury or interest from him; but fear your God, that your brother may live with you.
37 ‘You shall not lend him your money for usury, nor lend him your food at a profit. (Leviticus 25:35-37)
—————
19 ” You shall not charge interest to your brother — interest on money or food or anything that is lent out at interest.
20 “To a foreigner you may charge interest, but to your brother you shall not charge interest, that the LORD your God may bless you in all to which you set your hand in the land which you are entering to possess. (Deuteronomy 23:19,20)
————–
10 “I also, with my brethren and my servants, am lending them money and grain. Please, let us stop this usury!
11 “Restore now to them, even this day, their lands, their vineyards, their olive groves, and their houses, also a hundredth of the money and the grain, the new wine and the oil, that you have charged them.” (Nehemiah 5:10,11)
————-
#OWS
October 27th, 2011 at 7:15 pm
I am shocked … SHOCKED … to learn that the ISDA [International Swindlers and Defrauders Association] gleefully collected CDS premiums and then conspired with politicians to create a legal subterfuge so as to deny payment on claims.
Why, I’ve never heard of insurers using tricky small print to evade their obligations! [Snort!]
See ya in court, suckers!
October 27th, 2011 at 7:23 pm
To take our mind off all the BS going on, here are some really good pumpkins:
http://www.chron.com/news/gallery/Incredible-and-freaky-pumpkin-carvings-31672/photo-1698491.php
October 27th, 2011 at 7:59 pm
hey machinehead! this behaviour by ISDA now officially, truly, qualifies CDS as an “insurance” instrument! LOL. now all that’s left is them to be governed by state insurance regulators!
the prototype of a true insurance contract: offer u a seat and then yank the chair out just as you start to sit!!
October 28th, 2011 at 12:07 am
Still not there yet
http://www.star-telegram.com/2011/10/27/3479639/bnsf-chief-says-signs-of-recovery.html#my-headlines-default
October 28th, 2011 at 12:09 am
LOVE THE GREEK DEBT insurance article. Almost too good to be true. Hindsight is always 20/20, I was 99% convinced there would never be a default but a re-allotment?
October 28th, 2011 at 1:20 am
Better late than never:
MERS subpoenaed by New York, sued by Delaware
http://www.ft.com/intl/cms/s/0/8171200c-0094-11e1-ba33-00144feabdc0.html#axzz1c3Cd7d6y
http://www.businessweek.com/news/2011-10-27/mortgage-registry-mers-sued-by-delaware-attorney-general.html
http://www.reuters.com/article/2011/10/27/us-mers-subpoena-idUSTRE79Q7SD20111027
October 28th, 2011 at 7:12 am
Who sells most of the CDS on the market today? (is it JPMorgan?)
If CDS proves to be useless, then what happens to JPMorgan revenues?