Still stranded in London. My host Richard Smith’s reading of weather maps suggests I am likely to be here another week. Will post some proper links later today.
Remembering Iraq Andrew Bacevich (hat tip reader Sundog)
Revealed: details of extensive Rio bribes Sydney Morning Herald (hat tip reader Crocodile Chuck)
Bove: Time to Clean House at Goldman New York Times (hat tip reader Scott)
CNBC Guest Tells Truth, Calls Cramer Shallow, Is Yanked Off Air Zero Hedge (hat tip Tom Adams). Teh guest in questoin, Sylvan Raynes, is a long standing buddy of Tom’s and a recent acquaintance of mine, and I’d take his view over Cramer’s any day.
What Goldman’s Conduct Reveal Room for Debate, New York Times. Yours truly plus Michael Greenberger, Bill Black, Ed Harrisoin, Megan McArdle, Nomi Prins, and others.
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As a young lad on a dairy farm in norhtern Wisconsin (1950’s) we often had these days when it would rain or snow for days stopping working activities. These were times of rest, and in general a time to think.
So – while you have a chance I would hope you have a chance to share with us what the population of Britian (not the bankers or academics) thinks of the US financial system. History tells us that during WW II the term for the americans was, overpaid, oversexed and over here. Yes they needed the help, but we were a arrogant lot.
I can imagine they kind have similar thoughts of our bankers now.
I think the whole consumer world is
Overweight
Overdebted
Over now
It’s time for frugality and ‘small is beautiful.’
What’s up with the Times? That is a surprisingly good group of analysts for them to be representing. If the paper keeps this up, it could actually become credible on financial matters.
Interesting the pandas are all ritualistically bowing in one direction, possibly towards their ancestral homeland?
I’d be curious to see if there is any recording of their chantting at the same time.
A quote from Edward Harrison from the NY Times link:
“But, it strikes me as odd that Goldman has been charged when Lehman Brothers had a $150 billion hole in its balance sheet that, at a minimum, represented a potential Sarbanes-Oxley violation. To this non-lawyer, it seems unlikely that the Goldman legal case is better than a potential legal challenge to Lehman’s use of an accounting device, known as “Repo 105,” to temporarily move assets. ”
That seems pretty solid logic to me…
If you sincerely want to get back, start looking into freighters. This is not going to be over next week.
This sounds like change I can believe in.
“We help children become comfortable with ambiguity and responding to it….”
[T]he pupils in Ms. Runquist’s class said they liked philosophy because it involved reading good books and expressing themselves.
“We can say things about what we believe and stuff,” a girl named Autumn said. “It’s what we feel and what we think.”
Abby Goodnough, “The Examined Life, Age 8”
http://www.nytimes.com/2010/04/18/education/edlife/18philosophy-t.html
Spring in the English countryside is wonderful. I hope Yves finds an opportunity to get out of London and enjoy it. Also, Ireland isn’t far and this might be a particularly interesting time for a visit there.
LOL–Iceland to England: You demand my money? Kiss my ash…