Wisconsin court upholds GPS tracking by police Chicago Tribune
In-house fraud cases surge Financial Times
Stressing Fannie and Freddie – What Does It Mean? Bruce Krasting
Rising Credit Card Losses Are Next Challenge for Banks New York Times
Rating Agency Nonsense Independent Accountant. The Connecticut AG is tackling the rating agencies’ claims to First Amendment protection head on.
Deutsche Bank’s Socialization Of Risk Culture Redux Tyler Durden
Collateral Damage and Double Standards Robert Kuttner, Huffington Post. A good read. Get a load of this tidbit:
I also recently spoke at a convention of industrial construction companies. These are the people who build and maintain factories, power plants, and do other heavy industrial construction. I asked a room full of hundreds of executives how many saw signs of improvement in their order books. Not a single hand went up. Then I asked how many had had projects deferred because of difficulty getting financing. About two thirds of the people in the room raised their hands.
Long road to a ‘good GM’ filing John Dizard, Financial Times. A must read. Concise explanation of the issues involved in a Section 363 sale, which is what the government hopes to use with GM, and the procedural obstacles. Bottom line: the secured creditors will not be cowed as they were with Chrysler (remember, in this case, the secured creditors have rejected the deal, this isn’t a mere dissident group), and have good grounds for hoping to get a stay of the 363 sale. This is likely to be ugly and protracted.
Antidote du jour: