My morning reading material:

• NYAG: The Man the Banks Fear Most (American Prospect)
• Apple and the myth of “The Law of Large Numbers” (NetworkWorld)
• China’s Biggest Banks Are Squeezed for Capital (DealBook)
• ‘Tainted,’ but Still Serving on Corporate Boards (DealBook)
• Rentals Gone Wild (Naked Capitalism) see also Housing Sector – Why the Fed Depicts it as “Depressed” (Northern Trust)
• The Creative Monopoly (NYT)
• Euro crisis is not over. Just how surprised should you be? (Also Sprach Analyst)
• How the Media Has Shaped the Social Security Debate (Columbia Journalism Review) see also Social Security Fund to Run Out in 2035, Trustees Say (Bloomberg)
• Why Mitt Romney Won’t Take GOP Down Another VP Rabbit Hole (TPM)
• Rosen’s Trust Puzzler: What Explains Falling Confidence in the Press? (Press Think)

What are you reading?


‘Beats’ Get the Brush-Off

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.

20 Responses to “10 Tuesday AM Reads”

  1. BennyProfane says:

    Re: Naked Capitalism skewering that propaganda piece about Schneiderman at the top of your list. Fear, indeed. Everyone has a price, including elected AGs.

  2. Mike in Nola says:

    Ironic headline of the day:

    AT&T Profit Beats; iPhone Sales Drop Helps Margin

    Not many companies continue to sell products that cost them money.

  3. darth beta says:

    Social Security can not run out of funds. SS is funded by the US Treasury (not taxes, common misconception, the taxes are paid to the US tres). Saying SS can run out of money is saying the US Treasury does not have the power to create money.
    Funding SS is an accounting entry to the US Treasury.
    It simple accounting. The risk of SS is not running out of money but creating inflation. ie giving to many treasury credits to old people. But it that a risk or benefit? Giving money to old retired people who can spend it on things young people create seems like a positive.

  4. ConscienceofaConservative says:

    Duration Risk: How the Fed is Creating the Next Financial Crisis

  5. Moe says:


    Makes you feel all warm and protected doesn’t it?
    Wonder how they do against 357 Weatherbee?

  6. VennData says:

    Romney’s market testing (of Rubio in PA) is very businesslike, but not the right approach. Yes, McCain screwed up with Palin, moderates didn’t want an idiot VP, but Romney is over compensating, shanking the kick wide to the other side.

    Moderates don’t want a Tea Party loon like Rubio, but it takes time for candidates to be understood by the electorate. The GOP voter flitted from one candidate to another trying to avoid Romney. Now, he’s going to let them flit over Rubio …then others?

    Romney’s team should know what the moderate voter wants, but they don’t, beause they’ve had to chase the loud Far Right. So their market testing starts with a Rubio? The Fox News echo chamber is going to haunt the GOP for a long time. It will take more losses, but they will adapt and eventually jettison the wingnuts, until then, the business-like Romney is wasting time.

  7. willid3 says:

    if the meme that stock holders rule the corporate world as we are told how does this happen?
    You see, Chesapeake gives its CEO the right to buy a 2.5% interest in the gas and oil wells the company owns. Oil wells don’t come cheap, though, so to take advantage of the offer, McClendon borrowed big — as much as $1.1 billion, according to reports — and pledged his ownership interests in the wells as collateral.
    Let’s be crystal-clear about what’s happening here: The man who runs Chesapeake, who determines how many wells Chesapeake will drill, is borrowing money and using it to invest in these wells — personally, for his own account and not for any benefit of his company’s shareholders.
    As the boss at Chesapeake, McClendon has the power to decide whether wells will be drilled, and how many wells to drill. He’s done a lot of drilling, by the way, and put Chesapeake in hock to the tune of $10.5 billion to do it. If he hadn’t run the company into so much debt, of course, there would be fewer wells for him to invest in personally.

    is this a conflict or not?

  8. willid3 says:

    next big threat to banks? rise in interest? also a threat to bond investors?

  9. willid3 says:

    not sure that SS can ever go broke. as the taxes that support can be changed (that cap at 106,000 could be eliminated among other things). and then there is this, we have been over funding since 1986, when Reagan and Congress changed how it was set up, and creating what has been called the trust fund (which is all invested in US treasuries). now some think that we can ignore those treasuries and not pay back the ‘loans’ (which is what they are), aka as defaulting on them. but consider this, if we default on these treasuries (which are owed to ourselves) what investor would ever trust us ever again, since we just defaulted on notes to the owners???

    and then there is this.
    defaulting on these notes, is also going to antagonize one of the biggest voting blocks there is. as the elderly tend to vote almost always. plus those who are fairly close to retirement who might not have voted before, will be extremely energized to vote down who ever suggested it.

  10. By Heather Caliendo
    Published: April 23rd, 2012

    “What’s that scent you’re wearing?”

    “The MacBook Pro fragrance. Don’t I smell like an unwrapped package?”

    If you love the smell of packaging, happen to be an Apple fanatic, or just simply enjoy out of the ordinary packaging news, you’re in luck: a new fragrance has been created that mimics the smell of unwrapping an Apple laptop.

    The scent encompasses the smell of the plastic wrap covering the box, printed ink on the cardboard, the smell of paper and plastic components within the box and the aluminum laptop, according to Air Aroma, a scent marketing provider.

    “A distinctive scent can be observed when unwrapping a newly purchased Apple product from its packaging,” according to the company. “Apple fans will certainly recognize this smell.”

    A few months ago, a group of Melbourne, Australia-based artists known as Greatest Hits, approached the company seeking assistance with creation of a unique fragrance for their upcoming art exhibition. The aroma requested for the project was the scent of an Apple product being opened for the first time.

    “The scent requested by our client was quite unusual so we contacted our fragrance suppliers in the South of France to send over samples of fragrances with the aroma of glue, plastic, rubber and paper,” Air Aroma stated. “Air Aroma fragrance designers then used these samples as ingredients to create a range of signature blend fragrances. The blends, each with unique recipes were then tested in the Air Aroma laboratory until a final fragrance was ultimately selected.”

    To replicate the smell, a brand new unopened Apple was sent to the company’s fragrance lab in France. From there, professional perfume makers used the scents they observed unboxing the new Apple computer to source fragrance samples.

    Before you get too excited, this fragrance is not yet commercially available; the scent is exclusively for the Greatest Hits artistic exhibition in Melbourne. However, Air Aroma claims they’re looking for distributors….”

    in case you haven’t the [previous] ‘Ding-ding’ ..

  11. willid3 says:

    did Walmart’s own policies actually make their bribery problem a reality? because they treat accepting a soda from
    a vendor as the same as 24 million in bribes?

  12. willid3 says:

    has the bottom 50% lost interest in what ever happens to the economy because they get nothing but the down side?
    and is that the beginning of a revolt by them? because they see no upside (they see no gains from a ‘good’ economy, they can only see a down side (loose their jobs), that they are and continue to loose interest in the what happens. and become nothing but angry about every thing.

  13. Jojo says:

    The Simpsons Tells Fox to Eat Its Shorts
    By Forrest Wickman
    Posted Monday, April 23, 2012

    When The Simpsons celebrated Fox’s 25th anniversary Sunday night by taking a swipe at Fox News, it was only the latest example of what has become a long tradition. Indeed, taking shots at Fox seems to be The Simpsons’ favorite way of celebrating all its milestones. For the show’s 20th anniversary episode, a Springfield billboard during the opening credits read “Fox Network: Still Sucking After 20 Years.” For their 400th episode, The Simpsons did a riff on media censorship, ending with the 400th episode itself getting censored.

    But The Simpsons doesn’t limit its treasons just to milestones and anniversaries. Fox News has arguably become the show’s favorite satirical target in recent years. (The media feud has even been summed up by Next Media’s Taiwanese animation.) While the jabs are sometimes friendly—and while the resulting attention may benefit Fox more than it hurts the network—the criticism can become quite biting. In 2003 Simpsons creator Matt Groening said that one bit of satire—which included a faux Fox News ticker reporting items like “Pointless news crawls up 37 per cent” and “Do Democrats cause cancer? Find out at…”—prompted Fox News to threaten a lawsuit. Groening says The Simpsons kept the gag anyway because they didn’t think Rupert Murdoch would pay for one part of his corporation to sue another.

    On the occasion of Fox’s 25th anniversary—and The Simpsons’ latest dig—we thought it a good time to round up a few of The Simpons’ greatest jabs at Fox and its parent corporation.

  14. Giovanni says:

    RE: Rentals Gone Wild- love this quote: “Infamous Robosigner Linda Green appears to have done more to increase home prices than every government program combined”

  15. Joe Friday says:

    re: Social Security

    The “Trustee’s Reports” are becoming increasingly embarrassing, but I suppose if your ideological bent is to scrap Social Security and give it to Wall Street to skim commissions from, you just can’t be embarrassed.

    Once again, the forecast they utilize to arrive at their conclusions has been wrong, over and over and over and over again.