My afternoon train reads:

• Bette Midler says Larry Summers is bad choice for Fed chairman (MarketWatch)
• Rogoff Saying This Time Different Calls for Reflation (Bloomberg)
• The Problem with 401(k) Plans (Baseline Scenario) see also Why Retirement Risks Are Best Shared (Harvard Business Review)
• Bond Hubris Overwhelms Fed in Riskiest Credit-Market Sectors (Bloomberg)
• Mortgage Fraud Task Force Stats: Did You See This? WOW (Sense on Cents) see also U.S. Mortgage Group Forced to Correct Initiative Stats (Bloomberg)
• Diversification Isn’t Broken, It Just Takes a While (NYT)
• Exegesis: How early adapters, innovative publishers, legacy media companies and more are pushing toward the annotated web (Nieman Lab
• Is Wall Street Now Immune to D.C. Dysfunction? (Yahoo Finance)
• On Survival School (Derek Scruggs) see also Four Extreme Leadership Principles Of A Navy SEAL (Forbes)

What are you reading?


A Corn Boom Starts to Wilt
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 PM Reads”

  1. > Mortgage Fraud Task Force Stats: Did You See This? WOW (Sense on Cents) see also U.S. Mortgage Group Forced to Correct Initiative Stats (Bloomberg)

    Also see:

    “Holder needs to come forward and explain exactly how this happened and why. He used a press conference with the cameras rolling to give out numbers that proved to be false — and they appear to have been willfully false. He should be just as eager to hold another press conference to set the record straight, answer any questions about his apparent sleight of hand when it comes to financial-fraud metrics and apologize to the American people.”

    Eric Holder Owes the American People an Apology (Bloomberg)

    Meanwhile, more slapdash:

    President Obama orders intelligence chief accused of lying to Congress to lead NSA review (The Verge)

    • S Brennan says:

      Kinda makes you wonder if we had an election in 2008? …or is Dick Cheney still President?

    • rd says:

      It was very clear when the Mortgage Fraud Task Force was formed that it was designed to be a camel (horse designed by committee) with one real aim of diverting the activities of state regulators (most of the property ownership components of the fraud are state, not federal laws) who were aggressively going after wrong-doers.

      I would say that the Mortgage Fraud Task Force has been one of the most spectaculary successful federal government achievements of modern times in achieving its actual goals. The people in charge learned their lessons from the S&L crisis where a whole lot of people were mistakenly prosecuted and sent to prison and vowed not to repeat those errors.

  2. S Brennan says:

    Not to go all “Broder” on folks, but I’m glad Democrats & Republicans in DC can still come together on “traditional” displays of racism.,33449/

  3. Joe Friday says:

    BlackBerry Down For The Count; Waves White Flag


  4. sellstop says:

    Bette Midler weighs in on the choice of Fed chairman……

    This kind of development bodes well for traders everywhere.


  5. RW says:


    A relatively light week in GunFAIL, which is great news. Unfortunately, it wasn’t completely quiet out there, and it never will be. Which is sort of the point. …

    Among the events of special note, two Marines accidentally shot and killed themselves this week, which is more than a little unexpected …

    Two father/son fights resulted in GunFAIL this week. There were two stray bullet shootings, and one “home invasion,” in which a fellow accidentally shot through a neighbor’s apartment wall in the middle of the night. …And then there was the concealed carry ninja who, angered by being called out by neighborhood residents for speeding through their streets, jumped out of his car, went to draw the gun out of his waistband, and shot himself in the groin.

    Finally, our last recurring category: the kids of GunFAIL. Victims this week were ages 22 months, 8, 9 and 13. All were shot by other children, mostly by siblings or other family members.

    NB: I link to items such as GunFAIL or Sequester Watch now and then not to tick folks off but as a reminder in a world of slippery memory and short news cycles that the world goes on unaltered when attention wanders: In the case of GunFAIL, mistakes with guns have a very high personal cost in addition to their social/economic costs and the actual count of FAILs is less informative than the kill ratio (if you’re a kid the odds of surviving a GunFAIL are roughly 50/50); testing, licensing, registration and insurance requirements at least comparable to that of vehicle ownership hardly seem extreme in that light. YMMD

  6. Conan says:

    testing, licensing, registration and insurance requirements at least comparable to that of vehicle ownership hardly seem extreme in that light. YMMD

    The main issue isn’t any of the above that you have noted, this may help or not, but no matter how legal you posses your firearm, there will be a percentage that will cause injury by accident, suicide or ILLEGAL use. No matter how legal you posses your firearm you will be branded by some for whatever preconceived stereo type that they have in mind.

    Fire arms are a cultural flash point for discussion. It is a wedge issue used to take sides and make for heated stereo typing and branding of people. The vast majority of legal fire arm owners have had no incident of any type of violent use of their fire arm. Even look at police officers, many retire without having ever had used their weapon.

    However the small percent that do cause harm arm very much promoted in mass media, Thus the perception created, repeated often enough, makes accidents, illegal uses and such as the overall picture of the whole.

    PS there are many cases of fire arms saving lives, protecting property & stopping violence, but who in mass media ever reports that?