Blind pilot guided to land by RAF BBC (hat tip reader Paul)
Lack of clarity undermines TARP, firms say Investment News. A remarkably high percentage are reluctant to participate.
Prosperity Bank Acquires All the Deposits of Franklin Bank, S.S.B., Houston, Texas FDIC. Reader Steve points out that Franklin Bank was owned by Lew Ranieri, who created the mortgage backed securities market.
Moody’s Cuts MBIA Ratings Wall Street Journal. As foretold here and elsewhere.
The Age of Balance Sheet Recessions: What Post-2008 U.S., Europe and China Can Learn from Japan 1990-2005 Richard Koo, Nomura. Very informative (hat tip reader Bjornar via FT Alphaville)
“Fibonacci, Fermat, and Finance” Mark Thoma
Will Obama Bail Out GM, Chrysler and Ford? Deal Journal, Wall Street Journal
Can you resist financial globalization? Dani Rodrik
The Uses of Adversity Malcolm Gladwell, The New Yorker
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