A Census Taker for Penguins in Argentina New York Times
Merrill socked with $39.8 million arbitration ruling Investment News
CEO Change Begs Question About Banks Wall Street Journal (hat tip reader Don). I’ll admit to having only a limited sample, but this is just about the only mention I’ve seen of the disparity between how Big Auto and Big Finance are being treated.
Mark-to-Market Lobby Buoys Bank Profits 20% as FASB May Say Yes Bloomberg (hat tip reader Paul)
Oil Price Breakdown Inside Futures (hat tip reader Michael). Chinese demand down 15% v. last year.
OECD predicts 10% jobless rate for 2010 Financial Times. This is “practically with no exceptions”. Kiss the idea of a recovery in equities goodbye.
Majors at Harvard Greg Mankiw.
ABC: FBI & Prosecutors “Closing In” on AIG’s Cassano Paul Kedrosky
PM tells Canada’s banks to expand overseas Financial Times. One of the big things that kept Canada’s banks out of trouble was its regulators discouraging international forays. Iceland, England, and Switzerland show the danger of having an overlarge banking sector relative to GDP.
Bond Bailout Independent Accountant
Do Obama Administration Officials Think That Krugman is Naive, or Do They Just Say That to Naive Reporters? Dean Baker. I must confess I must be the only person in the blogosphere not to have read the Newsweek cover story on Krugman, but it sounds as if the piece dissed him. Krugman ought to be relieved. That treatment may spare him the magazine cover curse.
The fiscal stimulus debate: “Bone-headed” and “Neanderthal”? Volker Wieland, VoxEU. Argues for much lower stimulus multipliers.
Financing the Empire Michael Hudson, Counterpunch. A bit rambling, but highlights the differences in US vs. European views of the crisis.
Antidote du jour: