Buffett to Start A Bond Insurer For Cities, States Wall Street Journal. Buffet genius at work again. We’ve pointed out that guaranteeing state and local governments is close to free money, yet due to their balance sheet woes, bond insurers are now charging so much for protection that many municipalities are going on their own. The Sage of Omaha to the Rescue.
Complex pricing of credit cards should be simplified Adam J. Levitin, Chicago Tribune. And why, you may ask. Answer: credit card pricing is so convoluted that consumers don’t know what they cost, which keeps the market from functioning efficiently.
More on how the ivory towers grow so tall All About Alpha. A paper examines how university endowments have produced such high returns.
Mortgage Application Volume Tumbles Associated Press
Doin’ the Funk Russ Winter, Wall Street Examiner. Looks at tax receipts as a measure of economic activity.