Monthly Archives: February 2010

Links 2/28/10

Coffee producers ‘getting hammered’ by global climate change Raw Story (hat tip reader John D) Wild bears back in Britain? Telegraph Plastic rubbish blights Atlantic Ocean BBC NYT Should Rely on Experts Who Are Not Employed by J.P. Morgan Dean Baker In which Paul Krugman proves he is an academic snob who argues from his […]

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US Banks Reject Effort by UK Bank Execs to Rein in Pay

From the Independent: Chief executives from the world’s banks discussed the plans at a secret dinner held at Claridge’s, the London hotel, last October, at which several leading British bankers are said to have suggested that the sector should take greater responsibility for its part in the crash, and do more to reduce the vast […]

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How Sincere is Wal-Mart’s Demand that Chinese Suppliers Meet Labor and Environmental Standards?

I imagine that many readers will react as I did to the Washington Post story, “In China, Wal-Mart presses suppliers on labor, environmental standards” (hat tip reader Paul S): that this story, yet another tidbit supporting the Bentonville giant’s supposed conversion to the true green camp, has to make sense on a cold-blooded P&L basis, […]

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Riots Break Out at UC Berkeley Over Tuition Increases, Budget Cuts

Consider: if we are starting to see signs of resistance to austerity measures in the US, it would suggest that they are not going to go over too well in other countries that have debt overhangs either. Defaults and/or restructurings are usually more palatable, politically. And before suggesting that bondholders won’t stand for it, guess […]

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Links 2/27/10

Feed Pete Peterson to the Whales Alexander Cockburn, Counterpunch (hat tip reader Crocodile Chuck) Hitler and Cloud Computing Security Gunnar and Marcus, YouTube (hat tip reader John Moore) Two huge icebergs let loose off Antarctica’s coast Salon (hat tip reader Crocodile Chuck) Reinflating the Bubble Ryan Chittum, Columbia Journalism Review (hat tip reader Doug S) […]

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Rubin to be Grilled by Financial Crisis Inquiry Commission

Bloomberg reports that former Treasury Secretary and Citigroup board member Robert Rubin will be summoned before the Financial Crisis Inquiry Commission in April, with Alan Greenspan and Chuck Prince likely to be tapped as well. On the one hand, it’s a welcome sign that the FCIC will be interviewing many of the major figures responsible […]

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How to Stay Awake During Obama Speeches: Play Bullshit Bingo

Via e-mail: 1. Before Barrack Obama’s next televised speech, prepare your “Bullshit Bingo” card by drawing a square.  I find that 5″ x 5″ is a good size — and dividing it into columns –five across and five down. That will give you 25 1-inch blocks.   2. Write one of the following words/phrases in each block:  Restored our […]

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RBS pays billions while Commerzbank bankers get nothing

By Edward Harrison of Credit Writedowns Over the past few days, a number of major European banks have announced earnings results.  Two of the most dismal results were registered at the British company Royal Bank of Scotland (RBS) and at Germany’s Commerzbank. However, the similarity ends there because, while Commerzbank investment bankers received no bonus, […]

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Links 2/26/10

Citibank Shuts Down Gay Entrepreneur’s Bank Account Over Blog’s Content Washington Independent (hat tip reader John D) ‘Zombies’ have free speech rights too, US court rules Raw Story Lost Exile: The unlikely life and sudden death of The Exile, Russia’s angriest newspaper Vanity Fair (hat tip reader Leaked Microsoft intelligence document: Here’s what Microsoft will […]

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Euro in Big Hedge Funds’ Crosshairs

The Wall Street Journal is not the first to comment on the magnitude of the wagers against the euro (the Financial Times took note nearly two weeks ago: “Speculators raise record bets against euro“). But the Journal offers a spectacle sure to inflame sentiment in Europe: that of major hedge funds feasting first on lemon-roasted […]

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Is Goldman Finally About to be Leashed and Collared?

Goldman may have made a fatal mistake. Fatal not to the existence of the firm, but to its standing, reputation, legitimacy, and ultimately, to the thing it covets most, its profits. Power is most effective when it is used as sparingly as possible. Niall Ferguson, in book The Cash Nexus, stressed the importance of financing […]

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Auerback: Bernanke Fesses Up: America Has No ‘Insolvency’ Issue

By Marshall Auerback, a fund manager and investment strategist who writes for New Deal 2.0. Usually, we dread the regular Congressional testimonies of the Fed Chairman. They generally constitute a mix of obfuscation on the part of Mr. Bernanke mixed with political grandstanding on the part of Congress. But occasionally, a glimmer of truth comes […]

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Links 2/25/10

Australia summons Israeli envoy over Dubai killing BBC Belief In Climate Change Hinges On Worldview NPR Why Liberals and Atheists Are More Intelligent Reason (hat tip reader John D) Noah’s ark was circular Guardian (hat tip reader John M) Killer whale shakes trainer Dawn Brancheau to her death Times Online New home sales fall to […]

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Protests Grow in Greece, Portugal and Spain

The financial press has for the most part looked at the possibility of sovereign debt crises in Greece, Spain, and Portugal through a deal-making window: will Germany and other EU surplus countries back a rescue package, and if so, with what strings attached? There has certainly been ample speculation, particularly since a bailout of Greece […]

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