The Moose Elizabeth Bishop. A departure from our regular programming (hat tip reader Megan)
The Big Banks vs. America: A Roundtable with David Kotok and Josh Rosner Institutional Risk Analyst. This is an important piece, if you haven’t read it yet.
Treasury plan isn’t working, MPs say Telegraph
Senate Provision Would Let Buyout Firms Defer Taxes on Canceled Debt Wall Street Journal. So where’s my bailout?
It’s the Economy, Girlfriend New York Times. On the “Dating a Banker Anonymous” support group. More than a bit cringe-making.
Treasury forces Citi to cancel jet order Financial Times. Yes, they did not have the good sense to do it on their own.
A measure remodelled Financial Times. A good piece on proposals to change the GDP (and best yet, to get away from the idea of a single measure). However, it still has some whoppers like ” it is clear about what it includes and excludes, is based on objective prices thrown up by free markets and is comparable across countries.” Huh? He has clearly never heard of the US’s massive hedonic adjustments (applied since 1987) and “owner imputed rent.” Um, “imputed” means it is NOT an observed, or market number, but a guesstimate.
What is a non-performing loan? John Hempton
Antidote du jour (hat tip reader Buzz):