No More Pardons? Hilzoy. I think it important to give departing President Bush the little credit he is due. He is to be commended for not engaging in a rash of last-minute pardons.
Cheney Injures Back While Moving New York Times. A small bit of justice.
Fed Grapples With a New Risk Reality Wall Street Journal. The Journal takes note of the Fed’s crappy balance sheet.
Fiat Nearing a Deal for Chrysler Stake New York Times
Weird Housing Tales, Part 15 Boom2Bust. Weirder than usual, trust me.
GM Using Bail Out Money to Invest in Brazil! The Economic Populist
Zero returns on pensions and endowments Times Online
Biblical debt jubilee may be the only answer Ambrose Evans-Pritchard. First Niall Ferguson, now Evans-Pritchard?
The Choice of Herakles The Epicurean Dealmaker. Sounds a bit Stoic, if you ask me.
US and UK on brink of debt disaster The Economic Times (hat tip Jesse). One of our pet topics: that debt to GDP has reached unsustainable levels (and that is before you factor in hedonic adjustments to US GDP, which started in 1987) and the implications.
Yes, I should probably say something about the desperate terms at which the New York Times is raising $250 million from Carlos Slm, or the horrific losses at RBS (which not long ago was widely regarded as a savvy acquirer). But they strike me as speaking for themselves.
Antidote du jour (the photo from the Pasadena Doo Dah parade, courtesy reader Carlos; video hat tip reader Marshall):