My morning pre-crash reads:

• Berlin, IMF To Refuse Fresh Aid for Greece ( see also Spiegel bombshell: The IMF plans to dump Greece (The Automatic Earth)
• China Central Bank Adviser Forecasts Growth Slowdown to 7.4% (Bloomberg)
• Open Season on Wall Street Jobs (Businessweek)
• Hedge Fund Places Faith in Euro Zone (NYT)
• U.S. Cities Get Fleeced in Libor Scandal (The Fiscal Times) see also Banks in Libor probe consider group settlement-sources (Reuters)
• Bungled Bank Bailout Leaves Behind Righteous Anger (Bloomberg)
• The Top American Science Questions in 2012 (Science Debate)
• Political Perceptions: Campaigns Grow Louder as Pool of Converts Shrinks (WSJ)
• Corruption allegations, major fraud inquiries, a senate probe into deals with drug-running gangsters in Mexico … and a luxury yacht. Welcome to the world of banking 2012 (Herald Scotland)
• Google’s Data Advantage Over Apple’s Siri (NYT)

What are you unloading?


Investors Testing Limits of Defense

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.

8 Responses to “10 Monday AM Reads”

  1. ConscienceofaConservative says:

    Barofsky letting loose. Best part is on Geithner & Holder

  2. VennData says:

    Apple, Microsoft and Larry Ellison and the other patent trolls could learn a lesson in class from this outfit, ever heard of ‘em?

  3. willid3 says:

    maybe this time there will actually be prosecution of banksters

    and the next wall street/banksters manipulation to get your money

    this time it happens every time you put gas in to your car!

    first the run the interest rates for any loans, CC, and run down those for any sort savings

    and then they run up the cost of oil! ‘

  4. Jojo says:

    Got to move to Europe!
    June 21, 2012
    On Vacation and Sick? A Court Says Take Another

    BRUSSELS — For most Europeans, almost nothing is more prized than their four to six weeks of guaranteed annual vacation leave. But it was not clear just how sacrosanct that time off was until Thursday, when Europe’s highest court ruled that workers who happened to get sick on vacation were legally entitled to take another vacation.

    “The purpose of entitlement to paid annual leave is to enable the worker to rest and enjoy a period of relaxation and leisure,” the Court of Justice of the European Union, based in Luxembourg, ruled in a case involving department store workers in Spain. “The purpose of entitlement to sick leave is different, since it enables a worker to recover from an illness that has caused him to be unfit for work.”

  5. Frwip says:

    What are you unloading?

    Everything ! Even cash ! Run away !

    No, seriously, it’s getting pretty grim out there.

  6. Arequipa01 says:

    I saw a post on earnings quality and false reporting over at jessescafeamericain:

    If you head to the SSRN link you can download the pdf.

    Here is the abstract (I found point iv interesting):

    “We provide new insights into earnings quality from a survey of 169 CFOs of public companies and indepth
    interviews of 12 CFOs and two standard setters. Our key findings include (i) high-quality earnings
    are sustainable and are backed by actual cash flows; they also reflect consistent reporting choices over
    time and avoid long-term estimates; (ii) about 50% of earnings quality is driven by innate factors; (iii)
    about 20% of firms manage earnings to misrepresent economic performance, and for such firms 10% of
    EPS is typically managed; (iv) CFOs believe that earnings manipulation is hard to unravel from the
    outside but suggest a number of red flags to identify managed earnings; and (v) CFOs disagree with the
    direction the FASB is headed on a number of issues including the sheer number of promulgated rules, the
    top-down approach to rule making, the curtailed reporting discretion, the de-emphasis of the matching
    principle, and the over-emphasis on fair value accounting.”

  7. Julia Chestnut says:

    Jetzt geht’s los, boys. Mal seh’n. (Reading Spiegel gets me all Teutonic. Which, as it turns out, is good with gin.).