Countdown to March 29: Prepare for a National Call-In Day to our 50-state Attorneys General CrimeShouldn’tPay. Be SURE to call your state attorney general today! They seldom get calls from voters, so this effort will have an impact
U.S. Queen Bees Work Overtime to Save Hives BusinessWeek
Massive Setback for Merkel: Greens Score Big in Key German State Der Spiegel (hat tip reader bmeisen)
Germany: The lights go out Financial Times
Greece: This Decade’s Argentina? Kash, Angry Bear
Amber Waves to Ivory Bolls New York Times. This is not good.
Melting gold market is a hot issue John Dizard, Financial Times
Convenient Arguments James Kwak
BP Managers Said to Face U.S. Review for Manslaughter Charges Bloomberg (hat tip reader furzy mouse)
Regulators to Set Rules on Mortgage Securities Floyd Norris, New York Times
From the Horse’s Mouth: AIG’s Mistake Explained Economics of Contempt (hat tip Richard Smith). I’ll have to check with Tom Adams when he is back from a family vacation, but I am pretty sure the testimony is disingenuous, that AIG was actively marketing the difference between its insurance and the monoline version.
Cassino Refusal to Disclose Swap With JPMorgan Results in Suit Bloomberg. Go Bloomberg!
Quick PCE Notes Tim Duy
A Crazy Admission and a Judge’s Change of Heart StayInMyHome (hat tip Lisa Epstein)
U.S. Treasury to Grade Mortgage Servicers on Loan Modifications Bloomberg. Transparency is great, as long as it applies to other people. Not sure what this accomplishes, since this isn’t about name and shame (banks are shameless) or market discipline (borrowers can’t switch servicers). The only logic I can figure is this is a cheap way of dealing with the Congressional Oversight Panel’s compliant about lack of metrics at no cost to the Administration’s processes.
The MMT solvency constraint Steve Waldman. He also provides a huge linkfest if you want more.
There is no US federal debt crisis Francis Bator, Financial Times
Antidote du jour. I have an embarrassment of riches of recent reader submission; I’ll be putting them up over the next week or so.