Texas Meteorite Over Texas Caught on Nasa Camera YouTube (Chuck L)
Researchers find crippling flaws in global GPS SC Magazine Australia
‘I never believed his death was random': Colleague of CIA financier-turned Wall Street banker speaks out about his mysterious murder by homeless bag lady 30 years ago Daily Mail (May S). Mark Ames’ piece is stirring up some media interest.
Pettis: Australia should be pessimistic MacroBusiness
Europe clings to scorched-earth ideology as depression deepens Ambrose Evans-Pritchard, Telegraph
Oil, Iran, and stability in the Gulf: Why the Gulf states want to keep Iran in a box Foreign Policy (May S)
New report warns of diplomatic costs to the US of Iran sanctions The Hill (May S)
Opponents of Egypt’s Leader Call for Boycott of Charter Vote New York Times
The fiscal cliff could split the Republicans Ed Luce, Financial Times
Bloomberg Weighs Making Bid for The Financial Times New York Times. Aiee. Goodbye pink paper as we know it.
Consumer Spending Wobbles Wall Street Journal. And notice the catfood item:
But Sunday, Sen. Bob Corker (R., Tenn.) joined a small but growing number of Republicans who say there is a political advantage for the GOP in agreeing to Mr. Obama’s demand for tax increases for top earners, saying that will put the focus back on entitlement programs.
Taxes will go up if there is no deal. So in return for agreeing to go along with cuts lower than what would have happened anyhow, Obama gets to look like he cut entitlements to cinch a deal with the Republicans, giving him cover for what he most wanted to do anyhow.
When global banks fail, resolve them globally Financial Times. No mention of derivatives or trading ops in this preview, which has been a major shortcoming in previous concept docs. We’ll see if the long form addresses this adequately. However, despite the appallingly lousy headline, this sort of plan becomes much more credible if this sort of measure is imposed: Bank regulators edge towards ‘protectionism’. Or you can read this instead: Tarullo Telegraphs Fed’s Plans to Cap Bank Size Simon Johnson, Bloomberg
US banks in fresh structured finance spree Financial Times
Foreclosure cases moving like mud Palm Beach Post (Lynn S)
Countrywide motion to seal borrower info denied HousingWire (Lisa E)
California Court of Appeal’s Issues Writ of Mandamus Ordering Lower Court to Disqualify Former Countrywide Home Loan Lawyer Turn Judge From Largest Predatory Lending Case According to AUAF PRWeb (Deontos)
How Corruption Is Strangling U.S. Innovation James Allworth, Harvard Business Review (Chuck L). We are now seeing corruption acknowledged as an Official Problem? And not just in the pinko gulag? It’s still framed around “innovation” as is “what is good for business” but at least this is a start.
Citigroup’s Amazing Abu Dhabi Adventure Bill Cohan, Bloomberg
Default to Kindness Ian Welsh (Avedon)
Apologies for repeating this notice: A meetup was scheduled in NYC for next Friday without consulting with me. Last year, I had suggested January as a better time. I’ve tried to make this work but can’t do the 14th. I could do Jan 4 or Jan 11. You can obviously have a holiday party on your own, you’ll certainly have fun meeting each other.
Antidote du jour: