Canada rated world’s soundest bank system Reuters. You need to read the rankings. The US is behind Namibia.
FTC warns: Financial quagmire bringing out the scammers Network World
GE Capital scales back lending Financial Times
EU Crippled in Crisis as 27 Governments Confront Single Economy Bloomberg
Über-rich count their losses in billions Times Online
Yamato Life Files for Bankruptcy, Citing Investments Bloomberg
Running Commentary On Derivative Beast Eating Everything In Next 24 Hrs Elaine Meinel Supkis. She is more than a bit eccentric, and today offers a good recap of articles around the world.
Does Morgan Stanley Need To Raise $30 Billion? Clusterstock
Moment of Truth Paul Krugman
Hedge Hemorrhage Will Lead to “Capitulation Crash” Pension Pulse
Does Income Concentration Cause Bubbles? Mark Thoma
Will the US current account deficit fall faster than the IMF forecasts? Brad Setser
Antidote du jour. You get two today for obvious reasons:







After electricity was disconnected on wall street, shortly after The 2008 Crash, many apartment dwellers began employing homeless dogs to clean dishes. Although this popular activity was wide spread it soon became apparent that few people had money for food and thus dogs were forced to leave the city in large numbers. It was during this exodus that The Canine Right To Work Act was passionately debated in Congress for 3 years. Although passage of the act failed, the debate process resulted in The Dishwasher Safety Act of 2014, which paved the way for a series of legislative actions that eventually helped to restore order and power to dishwashers all across America.
Reality Bites
“I think we are in the midst of a period of the fastest wealth destruction that we’ve seen in at least two decades,” said Robert Frank, author of the book “Richistan,” a bestseller about how, until recently, the number of rich people in the United States has been exploding.
The market “just seems to be making everyone depressed, from the very top to the very bottom” of the major investment houses, Frank said. “The value system was all about making more [money]. Now what’s the value system?”
http://chasevectors.blogspot.com/
Great blog there^