My afternoon train reading:

• Greek default looms as voluntary debt deal looks set to fail (Telegraph)
• “When I Was Your Age…” You Young WhipperSnappers Have No Idea (Kid Dynamites World) see also Merrill Lynch losing top advisers (Investment News)
• Stocks Cheaper Than Any U.S. Peak in 23 Years (Bloomberg)
• Bad News for Boomers (WSJ) see also 0.2% Interest? You Bet We’ll Complain (NYT)
• Redesigning the NY Metro Transport System: Meet Sam Schwartz (NYT)
• The Tsunami and Nuclear Crisis: One Year Later (Scientific American)
• Managed money goes LONG oil (Alphaville) see also When Rockefeller and Standard Oil Met Their Match: Echoes (Bloomberg)
• Staying Out of the Murder Holes (Registered Rep.)
• Those Fabulous Confabs (New York Mag)
• The War On Drugs Hurts Businesses and Investors (Forbes) see also Legalize Pot to Make Roads Safer (WSJ)

What are you reading?


Crude Awakening: Oil Spikes on Saudi Pipeline-Blast Rumor

Source: WSJ

Category: Financial Press

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.

13 Responses to “Monday PM Reads”

  1. Robespierre says:

    “The Shocking Statistic About Psychopaths On Wall Street”

    “Studies conducted by Canadian forensic psychologist Robert Hare indicate that about 1 percent of the general population can be categorized as psychopathic, but the prevalence rate in the financial services industry is 10 percent. And Christopher Bayer believes, based on his experience, that the rate is higher. ”

    And from one of its comments:–they-are-still-occupying-positions-of-power-6282502.html

    As Mr Boddy warns: “The very same corporate psychopaths, who probably caused the crisis by their self-seeking greed and avarice, are now advising governments on how to get out of the crisis. Further, if the corporate psychopaths theory of the global financial crisis is correct, then we are now far from the end of the crisis. Indeed, it is only the end of the beginning.”

  2. Jojo says:

    Should Commuters or the Government Be Able To Use Jammers To Silence Cell Phone Users?

    I vote yes to the above.

  3. formerlawyer says:

    Reading Saez’s ever interesting take on income inequality in America.
    “During the Great Recession, from 2007 to 2009, average real income
    per family declined dramatically by 17.4% (Table 1),1 the largest two year drop since the Great Depression. Average real income for the top percentile fell even faster (36.3 percent decline, Table 1)
    The sharp fall in top incomes is explained primarily by the collapse of realized capital gains due to the stock-market crash. Aggregate realized capital gains fell from $895 billion in 2007 to $236 billion in 2009. Indeed, including realized capital gains, the top decile income share dropped from 49.7% in 2007 to 46.5% in 2009 while excluding realized capital gains, the top decile income share remained virtually constant from 45.7% in 2007 to 45.5% in 2009 (Figure 1)”


  4. Sechel says:

    1) There’s an element of Bonfire of the Vanities here
    2) I can’t help but think lowered Wall Street bonuses were a factor

  5. overanout says:

    Reading the impact of Japan’s nuclear crisis makes one wonder what an incident like this in the U.S. might be if this occurred near any major city. such as LA, SF, NY for instance. The economic and human consequences seem far reaching yet we continue to maintain these outdated reactors as if it could not happen but the Japanese have always been highly advanced in there technologies at all levels which is a bad omen for those countries looking to nuclear energy for there long term energy requirements.

  6. bear_in_mind says:

    Have a gander at this chart displaying $6.328 Trillion in debt the Federal Reserve is currently sitting on!

    What Is Bernanke Doing About the Fed’s Stockpile of U.S. Debt?
    PBS NewsHour
    By Paul Solman
    March 5, 2012 at 3:09 PM EDT

  7. along with..

    • The War On Drugs Hurts Businesses and Investors (Forbes) see also Legalize Pot to Make Roads Safer (WSJ)

    VP Biden to Reject Calls From Latin America to End War on Drugs
    by John Glaser, March 03, 2012
    | Print This | Share This | Antiwar Forum

    Vice President Joe Biden will tour Latin America and meet with heads of state amid growing pressure from the region for a different approach to the failed war on drugs. Political leaders from Costa Rica, Guatemala, El Salvador, Colombia, Mexico, Argentina, Uruguay, Peru, Honduras and others have voiced support for abandoning the drug war pushed for so long by the United States and instead decriminalizing drug use.

    Throughout Latin America, the U.S.’s drug war has cost a trillion dollars, encouraged police state abuses, fueled violence with drug gangs, strengthened cartels, killed tens of thousands of people, and has not markedly dented drug production and trafficking.

    Still, the top Latin America official in the White House, Dan Restrepo, said Latin American leaders shouldn’t expect a shift in policy. ”The Obama administration has been quite clear in our opposition to decriminalization or legalization of illicit drugs,” he said.

    Read the whole report from the Associated Press.

  8. El Bufon says:


    with regards to the ongoing “WHEN is a default a default” and when does a CDS pay?

    Felix Salmon has a nice new piece.

    Sit down before you read it, though :-)

  9. Holder: Assassinating Americans ‘Legal and Constitutional’
    Insists President’s Decision to Assassinate Is ‘Due Process’
    by Jason Ditz, March 05, 2012
    | Print This | Share This | Antiwar Forum

    Speaking today at Northwestern University, Attorney General Eric Holder insisted that the president has an absolute right under the context of the “war on terror” to order the assassination of American citizens overseas saying that the nature of a war against a “stateless enemy” meant that assassinations could happen anywhere.

    Insisting that such killings are “legal and constitutional,” Holder also said that President Obama’s decision to assassinate an American citizen in and of itself amounted to “due process,” and that courts are entirely unnecessary.

    Holder went on to spurn human rights groups for suggesting that assassinations were only acceptable in the case of “imminent threat,” saying that there is no requirement in the Constitution to wait until “some theoretical end-stage of planning” and that killings could happen before the “time, place and manner of an attack become clear.”…”


    ol’ “Bag” Holder, couldn’t ask for a better CV.. (Or, I suppose one could, but, nowadaZe..)
    You are the homegrown terrorist threat
    May 13, 2007 @ Michael Hampton → 92 Comments

    If you’re an American reading this, then under expansive definitions being used by the Federal Bureau of Investigation and several states in their counterterrorism training, you just might be a domestic terrorist.

    The FBI Joint Terrorism Task Force in Phoenix, Ariz., distributed a brochure (Images: 1, 2) to local law enforcement agencies a few years ago which defines terrorism as individuals or groups within the U.S. who engage in criminal activity to promote political or social changes. This is correct, as far as it goes, but the brochure then gives a listing of “suspicious” activities, telling law enforcement officers: “If you encounter any of the following, call the Joint Terrorism Task Force.”

    Some of the things for which you should be reported as a suspected terrorist include the usual things, like weapons of mass destruction, and hate groups such as the Ku Klux Klan and Neo-Nazis, but also includes people who “Make numerous references to US Constitution,” “Claim driving is a right, not a privilege” and “Attempt to ‘police the police.’”

    In addition, “People whose political motivation is usually Marxist/Leninist philosophy,” “‘defenders’ of the US Constitution against federal government and the UN,” computer hackers, and “Lone Individuals” should also be reported…”

    sometimes, “FBM” has to be an appropriate response, no?