Some morning reads:

• In euro crisis, U.S. lessons unlearned (Washington Post)
• Why Are Morgan Stanley & Goldman Sachs Still Bank Holding Companies 4 years Post-Crisis ? (Bloomberg)
• Evil is the root of all money (Macro Mania)
• The Good News and the (Very) Bad News about Bernanke’s Speech (Uneasy Money)
• Big Banks’ $29 Billion Cookie Jar (WSJ) see also Banks Face Suits as States Weigh Libor Losses (NYT)
• Asia’s Rich Are Wary of Private Bankers (Businessweek)
• Facebook Falls to Record Low After Morgan Stanley Report (Bloomberg) see also iPhone Price Cuts Send Bond Inflation Bets to 11-Year Low (Bloomberg)
• Alarming parallels between current Middle East tensions and events leading up to WWI (Sober Look)
• Kinsley: Don’t blame the deficit (LA Times)
• 12 Scary Signs That It’s Time to Leave Your Company (Yahoo Finance)

What are you reading?

 

Euro Crisis versus Federal Reserve

Source: Spiegel Online

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.

15 Responses to “10 Mid-Week AM Reads”

  1. algernon says:

    The Fed monetized $1,640 billion with “savings” it created out of thin air. The free lunch has been found.

  2. willid3 says:

    banks bluffing on moving?
    seems like they do that every time some one ponders the idea that they need to be policed, like after a scandal (LIEBOR any one? or IRAN scam? ) or global crash (2008 any one?)

    http://www.nakedcapitalism.com/2012/09/the-banks-are-bluffing-they-arent-moving-anywhere.html

  3. willid3 says:

    new threat. old oil pipelines causing a big mess
    http://stateimpact.npr.org/texas/2012/09/05/moving-crude-relies-on-aging-pipeline-system/
    and its not like it hasn’t happened recently either

  4. willid3 says:

    seems BP is in trouble again.

    http://fuelfix.com/blog/2012/09/05/feds-will-pursue-gross-negligence-charges-against-bp/

    and their own report is being used against them

  5. RW says:

    Just added to my reading list:

    The Devil’s Derivatives: The Untold Story of the Slick Traders and Hapless Regulators Who Almost Blew Up Wall Street . . . and Are Ready to Do It Again

    Felix Salmon comments, “Nick Dunbar is just as much of a rockstar as his mother, and has written probably the best single book about exactly how the financial crisis happened. It came out quite late, in large part because of protracted legal fights with the Fed, and not remotely enough people have read it. But he’s amazing” (ht Brad DeLong)

  6. AHodge says:

    http://www.bloomberg.com/news/2012-09-05/top-bank-lawyer-s-e-mails-show-washington-s-inside-game.html
    really good
    even the picture of shapiro looking like a tired old sellout

  7. AHodge says:

    obama should fire Shapiro and a few others
    announce the SEC is closed down for a do over
    just before the election
    he can wait till after all the money has come in
    he might even get my vote

  8. machinehead says:

    ‘Why Are Morgan Stanley & Goldman Sachs Still Bank Holding Companies 4 years Post-Crisis ?’

    Excellent question. Even its premise should be questioned. MS and GS posed as bank holding companies in 2008 to get free capital support from the Fed. Now they continue the charade, using the Fed’s free money to drive up asset prices.

    Letting these investment banker wolves pose in fluffy ‘bank holding company’ sheep’s clothing is an obscene abuse — tried opening a Goldman Sachs free checking account lately? Don’t expect to hear any complaints from Depublicrat candidates, who also need ‘free money’ in the form of bankster campaign contributes.

    Bribery pays a lot better than prop trading.

  9. willid3 says:

    non retirement plan?

    http://www.nytimes.com/2012/07/22/opinion/sunday/our-ridiculous-approach-to-retirement.html?_r=1

    what we have now requires the following
    To maintain living standards into old age we need roughly 20 times our annual income in financial wealth.

    then we have these todos
    First, figure out when you and your spouse will be laid off or be too sick to work.
    Second, figure out when you will die.
    Third, understand that you need to save 7 percent of every dollar you earn. (Didn’t start doing that when you were 25 and you are 55 now? Just save 30 percent of every dollar.)
    Fourth, earn at least 3 percent above inflation on your investments, every year. (Easy. Just find the best funds for the lowest price and have them optimally allocated.)
    Fifth, do not withdraw any funds when you lose your job, have a health problem, get divorced, buy a house or send a kid to college.
    Sixth, time your retirement account withdrawals so the last cent is spent the day you die.

  10. Jojo says:

    September 2, 2012
    At Least Fun in the Sun Isn’t Banned. For Now…
    By BROOKS BARNES and MICHAEL CIEPLY

    LOS ANGELES — “Whatever it is, I’m against it!” Groucho Marx sang in a 1932 picture filmed on the Paramount lot here.

    Today’s Southern Californians seem to agree.

    Once known for its sunny, freewheeling disposition — a live-and-let-live sensibility rooted in Western ideals and relied upon by generations of surfer dudes and misbehaving Hollywood stars — this region has long been as regulated as anywhere. Lately, however, cities, school districts and even libraries have been outlawing chunks of what used to pass here for birthright at a startling clip.

    Bonfires on the beach? Sorry, Gidget: Newport Beach is waiting for permission from the California Coastal Commission to remove its long-cherished fire pits, which it banned this summer as health hazards. Newport’s fleet of diesel-burning yachts are still O.K., but napping in the city’s libraries? Forbidden, as of July, along with any “use of perfume or fragrance” that interferes with librarians’ “ability to perform duties.”

    The Los Angeles Unified School District, bowing to pressure from ecologically-minded sixth graders, two weeks ago banned plastic foam trays in cafeterias. On Tuesday, California’s Legislature passed a ban on psychotherapy aimed at making gay teenagers straight; the ban was proposed by a state senator from Redondo Beach and is believed to be the first of its kind. On Wednesday, the Legislature forbade the carrying of rifles in public.

    California, of course, has lots of competition when it comes to aggressive bans. Witness the continuing brouhaha over New York City’s proposed banishment of large sodas and other sugary drinks.

    http://www.nytimes.com/2012/09/03/us/in-california-banning-bonfires-and-library-napping.html

  11. jaymaster says:

    BofA Right to Fire Broker Who Mooned His Boss: Court

    http://www.cnbc.com/id/48915269

  12. nofoulsontheplayground says:

    Quantifiable Edges – “Interesting Implications of the RUT/SPX Divergence on Tuesday”

    http://quantifiableedges.blogspot.com/2012/09/interesting-implications-of-rutspx.html

    The 10-day outlook from this set-up averages about a 1.9% drop.