We are hosting the Book Salon for Gretchen Morgenson’s and Josh Rosner’s Reckless Endangerment today at FireDogLake from 5-7 PM EDT. Be there or be square!
Trouble in Paradise Wall Street Journal. These deals are Europe’s analogues to the Jefferson County sewer financing. Why do municipalities allow themselves to be talked into complicated deals with hidden risks to save (probably) 50 basis points?
Tabloid’s Pursuit of Missing Girl Led to Its Own Demise Wall Street Journal. This is what you get when the Journal has to report on its parent. The story isn’t terrible as far as it goes, but it is framed incredibly narrowly and (amusingly) underplays the public’s reaction to the Miller Dowler story and the other legs of the scandal.
Hershey walkout: Foreign students nix firms’ offer Christian Science Monitor
Who said this: Obama or Hoover? Ed Harrison
Whatever Rick Perry’s Record Is, It’s Not Conservative The New Republic (hat tip reader furzy mouse)
US debate intensifies over taxes on the rich Financial Times. This is a little misleading. It’s a debate only among the rich themselves (well, and their operatives).
Tax the super-rich or riots will rage in 2012 MarketWatch (hat tip reader May S)
Moody’s lowers rating on Lender Processing Associated Press
Bond markets signal ‘Japanese’ slump for US and Europe Ambrose Evans-Pritchard, Telegraph. Ahem, yours truly made the deflation call as soon as it was clear the US would be cutting the Federal deficit. Deflationary policies were already in place in the Eurozone, they are also operative at the state level and will now be compounded by Federal policy. But this article has more grim tales re Eurobank liquidity. The dollar funding gap is back to $1 trillion, which if I recall correctly is about where it was on the eve of the crisis (I though I had read reassurances that things were safer now because the dollar funding gap was down to $500 billion. So much for that sighting).
Antidote du jour: