Twitter is our id, Facebook is our Ego Roger Ehrenberg. Further confirmation of why I want neither on display.
Effect of Household Deleveraging on Housing, Consumption and the Stock Market Michael Shedlock (hat tip reader Steve L)
U.S. Considers Stripping SEC of Power in Rules Revamp Bloomberg (hat tip reader Michael D). They want to shift its duties to….the Fed. The SEC has become more and more ineffectual over the years, but could be revitalized. The Fed is full of monetary economists who don’t understand (and don’t have much interest in) derivatives, among other things. They don’t have have the skills or mindset to do criminal investigations.
Where Are the Damn Cops (BAC) Karl Denninger (hat tip reader Richard R)
Beijing’s stimulus measures questioned Financial Times (hat tip reader Michael Q)
Activist Financier ‘Terrorizes’ Bankers in Foreclosure Fight Wall Street Journal
Let battle commence Gilian Tett and Aline van Duyn, Financial Times. On derivatives regulation. If you have not read it, you MUST also see Kabuki on the Potomac: Reforming Credit Default Swaps and OTC Derivatives Institutional Risk Analytics.
Antidote du jour (hat tip reader Stephen):