Links 12/16/08

Particularly good stuff today…

How Wall Street Broke the So-Called ‘Free Market‘ Andrew Leonard, Salon (hat tip Dave Iverson)

The Kucinich court decision and “judicial activism” Glenn Greenwald, Salon (hat tip Lune). Salon is on a run…

Coca-Cola Urged to Close an Indian Plant to Save Water New York Times. A harbinger of things to come?

He could destroy us Accrued Interest. Angelo Mozilo as the poster child of what is wrong with modern capitalism.

December retail sales James Hamilton, Econbrowser. Hamilton, always a dispassionate sort, thinks the market’s swan dive in response to the release of December sales data was an overreaction.

Get Ready For More Downgrades: S&P Revises RMBS Ratings Assumptions (Again) Housing Wire. An important post. S&P is upping its 2006 vintage RMBS loss assumptions from 14% to 19% and cites evidence that REO is really not moving.

Save the taxpayer: set Northern Rock free Willem Buiter

Score One Success for the Federal Reserve David Merkel

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