Hey Paul Krugman (A song, A plea) You Tube (hat tip reader Scott)
US retail investors flee to savings Financial Times
Surge in short selling clouds rally prospects Financial Times
China raises jobless migrant count to 23 million CNBC (hat tip reader Michael)
Will the Geithner Plan Produce True Market Prices? Felix Salmon
Toxic Assets Were Hidden Assets Hernando De Soto, Wall Street Journal (hat tip reader Don)
The Real AIG Scandal, Continued! Eliot Spitzer, Slate
Geithner Wants New Rules to Check Risks and AIG Fights a Fire at Its Paris Unit, Wall Street Journal. Read these two in sequence. Have you heard Geithner say word one about imposing restrictions on them? The AIG terms may have been non-standard, but a regulatory takeover would trigger a default on CDS written on a firm, and apparently also on CDS written BY a firm. So either he hasn’t done his homework or, as we said before, the receivership proposal is a sham. Take your pick.
Antidote du jour. From the Washington Post (additional text and photos, hat tip reader Jeff):
…despite murderous tendencies in the captive species, two newborn clouded leopard cubs were found alive, well and squealing at the National Zoo’s Conservation and Research Center in Front Royal, Va.
They were taken immediately from their gorgeous mother before she could do them harm, or do them in, placed in an incubator set at 88 degrees and fed salt water from baby bottles. Born with dappled, reptile-pattern fur, they were the first such births at the zoo in 16 years.