There is a TON of new stuff on the Goldman/Greece affair, starting with the most damning accusation:
Goldman Sachs contre, tout contre, la Grèce Jean Quatremer (hat tip Eurointelligence). I’d translate the piece, but my French is not what it once was (as in I can read it but I might muff some of the finer points). He accuses Goldman and John Paulson’s hedge funds of being the moving forces behind the attack on Greece and the euro:
Je peux donc vous confirmer que, selon des sources concordantes, Goldman Sachs et le fonds spéculatif dirigé par John Paulson seraient les deux principaux acteurs des attaques contre la Grèce et l’euro.
Merkel hits out at banks over Greek deals Financial Times. Putting two and two together, if the Quatremer J’accuse is confirmed, the wrath of the EU may come down on Goldman. They may not be able to take any immediate action, but look how many believe that Bear was at least in part a victim of its failure to participate in the rescue of LTCM a decade before. If this report is confirmed, I will have to rethink my view that Goldman remained TBTF (more accurately, too interconnected to fail) no matter what the official pretenses were. Goldman may have just made itself Too Controversial To Save.
Stripping away the disguise of derivatives Satyajit Das Financial Times. Explains how the swaps worked.
Asked to choose between bacon and sex, 43 per cent of Canadians would choose…bacon! NewsWire (hat tip reader John D). One could charitably assume this means sex is easy to come by in Canada.
Pregnant woman jailed for having thought about abortion Digital Journal (hat tip reader Frank A)
Ol’ blue eyes faces the final curtain Independent (hat tip reader Michael M)
风水指数 二零一零 or feng-shui your investment FT Alphaville (hat tip reader John L)
Check out Skeptical CPA: Zimbabwe Ben, Our Sartre Independent Accountant
Former Regulator Talks Fraud and the Big Bank Getaway PBS (hat tip reader Nahtanoj)
Slow Trip Across Sea Aids Profit and Environment New York Times (hat tip reader Hillary). Hhm, I wonder how much this depends on money remaining cheap. Longer transit times mean larger inventory carrying costs.
Tax Rates for Top 400 Earners Fall as Income Soars, IRS Data Tax.com (hat tip reader John D)
Antidote du jour: