My afternoon train reading:

• The Modest Worth of Big Banks (NYT) see also JPMorgan Joins MF Global in Lobbying Wins That Backfire (Bloomberg)
• Google Privacy Inquiries Get Little Cooperation (NYT)
• The Facebook Face-Plant: “Nobody Put a Gun to Their Heads” (Jeff Matthews Is Not Making This Up)
• Beware the quant models (FT.com)
• Billion Dollar Bait & Switch: States Divert Foreclosure Deal Funds (Pro Publica) see also WSJ Poll: Dim Views of Big Business, Government (WSJ)
Romney: The Partner (The New Republic)
• Obama spending binge never happened (Market Watch) see also Obama Prospects Improve as Swing State Economies Improve (Bloomberg)
• Welcome to Another 30 for 30 (Grantland)
• Whom Should We Prevent From Blowing Themselves Up, And Why? (DealBreaker)
• Twitter is tracking you on the web (DCurtis) see also Here’s What You Can Do To Stop It (LifeHacker)

What are you reading?

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Europe’s Problems Still Threaten to Spill Into U.S.


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.

17 Responses to “10 Mid-Week PM Reads”

  1. Singmaster says:

    Recriminations over Facebook’s stock offering may be rattling Wall Street, but Silicon Valley considers the flotation a ruthless and successful smash-and-grab raid.
    http://www.guardian.co.uk/technology/2012/may/23/facebook-ipo-disaster-silicon-valley?

  2. MorticiaA says:

    The Market Watch piece is good, but the comments section: not sure what’s scarier – the financial illiteracy of the commenters or the racism.

  3. krsone says:

    A sad video on the unfortunate results of the corporate psychopathy of Wells Fargo:

    http://www.youtube.com/watch?v=dT8TUl0aHpI&feature=g-u-u

  4. • Twitter is tracking you on the web (DCurtis) see also Here’s What You Can Do To Stop It (LifeHacker)
    ~~~
    Nov 25th, 2011 | By E-Discovery News Feed | Category: E-Discovery News

    Privacy at Risk? – Feds to Monitor Twitter & Facebook

    US citizens expect the Department of Homeland Security (DHS) to protect the country from potential threats, but the recent announcement that DHS will monitor Twitter & Facebook will surely cause privacy advocates great concern. Social Media has been used extensively in the government uprisings world-wide and DHS is now drawing up guidelines to monitor Social Media. Undersecretary of the DHS Caryn Wagner told an audience at the National Symposium on Homeland Security and Defense in Colorado Springs:

    We’re still trying to figure out how you use things like Twitter as a source…How do you establish trends and how do you then capture that in an intelligence product?

    The DHS guidelines may cast a pall over Social Media and impact how Social Media is used and surely the Electronic Frontier Foundation (EFF) and Electronic Privacy Information Center (EPIC) will keep a close eye. As a matter of fact, EPIC posted a recent report from Carnegie Mellon University that found that “privacy tools designed to protect consumers from online behavioral advertising are ineffective because they are difficult for users to understand and to configure.”…”

    http://electronicdiscovery.info/privacy-at-risk-feds-to-monitor-twitter-facebook-%E2%80%93-electronic-discovery/

    EFF: Prosecutors want location data via a Twitter shortcut

    A subpoena for a protestor’s Twitter account information could reveal location data without forcing authorities to obtain a search warrant, privacy advocates at the EFF note…
    http://news.cnet.com/8301-1009_3-57432924-83/eff-prosecutors-want-location-data-via-a-twitter-shortcut/

    America’s spy agencies want to read your blog posts, keep track of your Twitter updates — even check out your book reviews on Amazon.
    By Noah Shachtman October 19, 2009

    In-Q-Tel, the investment arm of the CIA and the wider intelligence community, is putting cash into Visible Technologies, a software firm that specializes in monitoring social media. It’s part of a larger movement within the spy services to get better at using ”open source intelligence” — information that’s publicly available, but often hidden in the flood of TV shows, newspaper articles, blog posts, online videos and radio reports generated every day.

    Visible crawls over half a million web 2.0 sites a day, scraping more than a million posts and conversations taking place on blogs, online forums, Flickr, YouTube, Twitter and Amazon. (It doesn’t touch closed social networks, like Facebook, at the moment.) Customers get customized, real-time feeds of what’s being said on these sites, based on a series of keywords.

    “That’s kind of the basic step — get in and monitor,” says company senior vice president Blake Cahill. ..”
    http://www.wired.com/dangerroom/2009/10/exclusive-us-spies-buy-stake-in-twitter-blog-monitoring-firm

    http://search.yippy.com/search?input-form=clusty-simple&v%3Asources=webplus-ns-aaf&v%3Aproject=clusty&query=EFF+Twitter+In-Q-Tel

  5. SOP says:

    Re. “Views of Big Business, Government”

    Surprise! Surprise! Surprise!

    Imagine what the poll numbers would say if the public actually had a clue what was happening.
    ———–
    “States Divert Foreclosure Deal Funds”

    Criminal minds think alike.

  6. VennData says:

    HP to lay off about 27,000, eyes over $3 billion savings

    http://www.reuters.com/article/2012/05/23/us-hp-idUSBRE84M1DX20120523

    Cutting our way to prosperity! First Carly, now Meg Whitman! Go GOP! Next, The Romney Way!

    That Cory Booker is right, and he’s a Liberal Democrat! And and black one!!! Cutting is the way to grow. That’s why the GOP wants to remind you about the fiscal cliff… er.. a… well, that’s why they want to remind you about how Romney can cut gov’t! Yeah… he’s going to cut gov’t to everyone else, but not you. So don’t worry. You’re one of us! You’re a 1%er!

    You might want to talk to a few of those useless folks at HP, oh heck, you don’t need to do that, just FEEL that GOP patriotism. Feel and believe the GOP. You’re one of us. All of you, all we need is half the vote, you’re all 1%ers.

  7. thomas hudson says:

    market watch piece is interesting, but the bloomberg article doesn’t seem to dig deep enough. of those swing states, many have newly elected republican governors, and the voters may attribute the improved economies locally instead (which is probably closer to the truth, anyways, regardless of the party). only two – north carolina and colorado – have democratic governors. perdue in nc is resigning (cuz she knew she wasn’t going to win she was polling so badly),the gay marriage amendment was soundly defeated there recently, and 21% of the people in the democratic primary voted’ no preference’ instead of obama.

    me still thinks this is going to be a close one.

  8. Irwin Fletcher says:

    Re: Market Watch piece by Rex Nutting:
    Where does he put the 2009 Stimulus package? In Obama’s ledger or Bush’s?
    Would be curious to know if he’s honest or not. I actually don’t know.
    But he carefully calls 2009 Bush’s budget year, which is correct, as long as he doesn’t
    include Obama’s stimulus, which was not in Bush’s budget.
    If he didn’t credit Obama with the stimulus in 2009, then he’s a liar and the whole article is a piece of shit.
    If not, then good piece and thanks for posting it.
    Anyone know?

  9. louis says:

    I wonder what Pete Rose would do if his house was underwater?

  10. ConscienceofaConservative says:

    Pettis-Spain will leave the Euro

    http://www.mpettis.com/2012/05/18/europes-depressing-prospects/

  11. PeterR says:

    May the Farce be with you.

  12. NoKidding says:

    Irwin, his chart shows the stimulus correctly attributed. But like Invictus’s like-minded posts, it misses the point. If you max out your credit cards buying dubious crap (like wars of choice and free drugs for the elderly) it is not admirable to maintain that same level of spending for the next four years.

    In 2010, while running a trillion dollar deficit and with revenues flat or falling, congress and the president agreed to freeze spending – and thats been more or less the game plan they’ve executed. One of the tea party memes was that we have not passed a budget since 2008, which is true.

    Going back to my bad analogy, if we don’t agree how much should be spent at Starbucks with plastic money, then the actual agreement is to keep spending “whatever” on coffee flavored milk shakes until MasterCard sets enforces a spending limit on our behalf. That’s whats been happening since Bushs last year.

    This shitty economy is not obamas fault. His reaction to the shitty economy has been shameful though. I don’t think Romney or Paul would really bring change. If we wanted change we’d send home more than 10 percent of sitting congressmen. I do not think we want change. I think we want 5 dollar coffee, and I think the next president will pour it for us.

  13. parsec says:

    I got the impression from the Dealbreaker piece that we peasants should just write Lloyd or Jamie a check for everything we own and be done with it.

  14. VennData says:

    Google Android Didn’t Infringe Oracle Patents, Jury Says

    http://www.bloomberg.com/news/2012-05-23/google-s-android-didn-t-infringe-oracle-patents-jury-says-1-.html

    Larry Ellison, patent troll, laughed at by twelve regular folks.

    Next up? Maybe he’ll by Dean Foods and sue women who breast feed.

  15. GuinnessFan says:

    Irwin Fletcher,

    Regarding the 2009 stimilus, re-read the article. The author answers your question near the end. Remember that not all of the stimulus spending took place in 2009.