The yield curve (wonkish) Paul Krugman
Bailout of Long-Term Capital: A Bad Precedent? Tyler Cowen, New York Times
Is Prozac causing all of these stock market bubbles? RFK Action Front
Germany resists calls to spend its way out of trouble International Herald Tribune
Accounting Standards Wilt Under Pressure Washington Post
A Mortgage Paper Trail Often Leads to Nowhere New York Times (hat tip reader Don). OK, you tell me, are servicers really this incompetent, or is this a design feature. or an unholy mix of the two? You don’t see this inability to trace transactions in checking accounts or credit cards.
Krugman’s “hangover theory”, revisited Steve Waldman
Antidote du jour: