My Friday morning reading material full of wonder and amusement:

Study: Lavish CEO pay doesn’t work as intended (The Bottom Line)
• Exporters are doing better than you think (WaPo)
• Is BofA’s Foreclosure Review Really Independent? You Be the Judge (Pro Publica) see also Banks See Home Loans as Gateway to Big Gains (NYT)
• Pimco Local Buying Signals Longest Muni Credit Rally Prolonged (Bloomberg)
• Making Room in Your Piece of the Cloud (NYT) see also Useful New Tools, and Some Diversions, for Apple’s New Phone (NYT)
• The Mini Knight (Nanex)
• A History of the Movies In Four Parts (WSJ)
• Why the Obama Administration Resembles Facebook (The Daily Beast) see also BY WIDE MARGIN, DEMOCRATS WANT BIDEN IN ALL REMAINING DEBATES (Borowitz)
• U.S. Treasury Cowboy Claims Something Done Spooked Economy (The Onion)
• The Classics-to-Be for Tomorrow’s Car Collectors (NYT)

What are you reading?


Mortgages Now Provide Shelter for Banks

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.

30 Responses to “10 Friday AM Reads”

  1. Julia Chestnut says:

    That Borowitz piece was the best laugh I’ve had in at least a week. Thank you for the link. I keep forgetting about the New Yorker online – we get the dead tree, and it makes me so happy I forget “But wait – there’s more!”

  2. ben22 says:

    Hummer h3 and a toyota prius among the classic cars of tomorrow?

    I’m taking the other side on that call

  3. AHodge says:

    cloud cloud parts have been here forever
    google saves all your email attachments get em forward em anytimefrom anywhere
    as for now tell the i phoners dont put your movies, pic albums up there less you want to pay–like you should

    borowitz great leadoff and start–but the biden nailing was a lot more than a smirk and irish slurs
    i didnt even watch it i just read a transcript later–he nailed ryan on substance and wit
    i finally listened to begining audio
    biden firm and mature ryan a little whiny nasal and uncertain in comparison

    thats how ya do it big o man up.

  4. AHodge says:

    Biden for president 2016
    if O decides he can govern
    –reform wall st start over with SEC etc etc
    and gets a more realistic foreign policy re russia and china
    i ll vote for Biden next time
    if O loses Biden will be looking good for 2016 if he not too old to run.
    His wife will be looking better too, maybe not too hot to first lady it by then

  5. formerlawyer says:

    Bad news for Facebook? The Internet was social before facebook…

    “Of course the law imposes constraints; judges cannot strike rules down simply because they dislike them. But there is no question that the ultimate fate of rules protecting health, safety, and the environment may ultimately depend on whether the judges on the panel were appointed by a Republican or a Democrat.”

    I despair for education in the United States.

  6. The Retired CNBC Sucks says:

    The difference between the Obama Administration and Facebook is that I am not looking to buy the Obama Administration when it hits a certain price.

    As I called it last night during (not after) the VP debate, Joe Biden won it running away. The hashtag #LyinRyan trended on Twitter by the end of the debate and conservative Tweeters were extremely POed with Biden, a sure sign of his victory. Ryan came off as a wonkier (wonky lies, anyway) but far less likeable version of Dan Quayle (or Sarah Palin, for that matter). Worse for the GOP, with the obvious personal chemistry between the two VP candidates, the debate came off like a not-quite-senile-yet dad lovingly lecturing his illegitimate, stupid son.

  7. whskyjack says:

    “the debate came off like a not-quite-senile-yet dad lovingly lecturing his illegitimate, stupid son.”


    that gets my Best Description of the Debate award.


  8. Christopher says:

    Would you buy a used Hummer from Joe Biden??

  9. Christopher says:


    Yeah…..Joe knows best.

    I’m so happy we have our dear leaders to show us the way to enlightenment.

    I’ll take my Hummer in yellow!!

  10. VennData says:

    Microsoft sues Motorola over Google Maps app mapping patent

    “…According to Microsoft, some products sold by Google-owned Motorola Mobility infringe on a patent that describes a method of obtaining the map from one database, resource information such as Starbucks locations from a second database, and overlaying the two sets of data. A technique like this is used in Google Maps, which is installed on Motorola’s Android devices…”

    Innovation. Growth. Ideas. Hmm… Using one database of information and comparing it to another. I wonder who patented JOIN? And why the hell they are tossing the Sahara into the wheels of progress to get theirs?

    Microsoft owners, you think this bodes well for the long-term maintenance of their profits and dividends? Really? Sorry I patented that idea. You owe me all your gains.

  11. James Cameron says:

    Surprise Jack Welch Missed Shows Better U.S. Growth: Economy

  12. VennData says:

    The Secret of Hedge Funds, They Stink.

    “…Given the evidence, the only logical explanations I can think of for the continued popularity of hedge funds are that either investors are unaware of the data, or individuals invest in hedge funds for the same reasons they buy a Rolex or carry a Gucci bag — they’re supposed expressions of status, prestige, exclusivity and sophistication. Letting such emotions determine investment decisions is a recipe for transferring assets from your wallet to those of the purveyors of products…”

  13. hue says:

    “You know what’s the difference between Sarah Palin and Paul Ryan?

    Lipstick. ”

  14. willid3 says:

    oil companies wanting to export US oil. not a sign of energy independence but of the price difference between US oil and the world price. which is about $20 a barrel. which will mean that our gas prices will start going up again,

    so much for drill here drill now being a solution to high gas prices. all it would do in increase oil exports. and oil imports too

  15. nofoulsontheplayground says:

    Business Insider (I know it’s Henry Blodgett, but the reporting appears credible here):

    “We’ve Gotten to the Bottom of the Mysterious Jobless Claims Report!”

    This note from yesterday indicates the source of the under-reported initial claims is California.

  16. willid3 says:

    another spin off from NASA

    seems that robotic legs can also be used to help paraplegics

  17. SecondLook says:


    Most Americans don’t realize that oil is one of the most fungible commodities out there. In fact, most, even though they experience fungibility on a nearly daily basis, don’t understand that it’s a two way auction:

    You can buy bananas, identical in quality, at two stores. All other things being equal, you’ll buy from the store that offers a lower price.
    Two customers, at the same time, want your bananas. you’ll sell them to the one who offers the most for the product.

    Simple, very basic economics. Yet, surprisingly, that concept escapes the minds of Americans.

  18. thomas hudson says:

    this morning the Catholic Bishops decided they needed to let their Vice President know that he does not fully understand the provisions of the HHS mandate:

    “With regard to the assault on the Catholic Church, let me make it absolutely clear. No religious institution—Catholic or otherwise, including Catholic social services, Georgetown hospital, Mercy hospital, any hospital—none has to either refer contraception, none has to pay for contraception, none has to be a vehicle to get contraception in any insurance policy they provide. That is a fact. That is a fact.”

    This is not a fact. The HHS mandate contains a narrow, four-part exemption for certain “religious employers.” That exemption was made final in February and does not extend to “Catholic social services, Georgetown hospital, Mercy hospital, any hospital,” or any other religious charity that offers its services to all, regardless of the faith of those served.

  19. VennData says:

    …and I believe those bishops. They’ve never steered me wrong before. Biden was just too aggressive… and Obama just too passive in the debates, that’s the truth of it.

    Obama Considered a Polarizing President, According to Poll

    If I still had my family farm, and my guns, I’d agree but after that tax hike… well… and he socialized my health care so I’m too sick to respond to polls. Which are biased, and full of people who never should have been aborted.

  20. VennData says:

    Ending some tax breaks would allow 4-percent cut in rates: report

    Repealing most of the tax code’s major itemized deductions – like those for mortgage interest and charitable donations – would allow for a 4 percent cut in income tax rates without adding to the federal deficit, according to congressional tax researchers.

    The analysis from the non-partisan congressional Joint Committee on Taxation is timely ahead of the November 6 presidential election. Republican challenger Mitt Romney has promised a 20 percent income tax cut for all Americans but said the move would be revenue-neutral.–sector.html

    Here’s Romney’s big lie folks. It’s math. Accept it.

  21. nofoulsontheplayground says:

    James Altucher – “How to Become an Idea Machine”

  22. nofoulsontheplayground says:

    Carl Swenlin – Decisionpoint “Percent Buy Index Gives Sell Signal”

    The sell signal is on the S&P 500. The Nasdaq gave a similar sell signal 2-weeks ago on Decisionpionts’ PBI indicator chart.

  23. sellstop says:

    What am I reading?
    The markets.
    And I don’t see the urgency in the selloff.
    A thought occurs.
    The Euro will approve the Eurobond. That is a gamechanger. Dollar down. US Treasurys down. Euro Up. Exports up. Euro deflation gone. China/Saudi diversify to Euros. Dollar no longer sole reserve. Asset prices up. Stock market up. Interest rates up????… Bond market bubble, right. So the unwinding is counterintuitive and inflationary…. We’ll see…..

    It’s not just Corona….


  24. VennData says:

    Michigan Consumer Confidence Gauge Hits Five-Year High

    Michigan? That’s by Chicago, right?

    – Jack Welch

  25. Joe Friday says:


    You know what’s the difference between Sarah Palin and Paul Ryan? Lipstick.

    Ryan wears lipstick ?

  26. Joe Friday says:


    oil companies wanting to export US oil. not a sign of energy independence but of the price difference between US oil and the world price. which is about $20 a barrel.

    Actually, it’s because gasoline consumption in this country is down below 1980 levels:

    Gasoline Deliveries

    So much for “Supply and Demand” pricing.

  27. hue says:

    nah, Ryan just likes to pump himself
    a pit bull wears lipstick