Moonwalkers: Reflections from Sterling, Diamandis and more h+ (hat tip reader David C)
States close rest areas in bid to stave off shortfalls: Travel expert warns safety could suffer USA Today (hat tip reader DoctoRx)
The Case Against Larry Summers Elizabeth McDonald (hat tip Barry Ritholtz)
Despite the meltdown too many still think money = brains Collateral Damage
The Decline and Fall of Hillary Clinton Nile Gardiner
Losing my religion for equality Jimmy Carter, The Age
Insight: Regulating human nature Andrew Lo, Financial Times
Treasury clashes with Tarp watchdog on data Financial Times
Goldman and JPMorgan — The Two Winners When The Rest of America is Losing Robert Reich, TPM Cafe
Bernanke: Fed able to foil inflation when time comes Reuters. If you believe that, I have a bridge I’d like to sell you.
Moody’s is unimpressed by German bad bank scheme Eurointelligence
Inside the Meltdown: Financial Ruin and the Race to Contain It Michiko Kakutani, July 20, 2009
Big Estimate, Worth Little, on Bailout Floyd Norris, New York Times. The critics are correct that Neil Barofsky’s $23.7 trillion number does not reflect the actual damage taxpayers will suffer, but they miss an important point. That figure is a combo plate of hard dollar expenditures like the TARP, plus guarantees and special facilities, which are tantamount to credit lines and guarantees. The fact that the POTENTIAL support extended is this large is a politically significant fact.
China’s Magic Numbers: Is the republic really growing at 8 percent a year? April Rabkin, The Big Money (hat tip reader Don B)
Judicial Apartheid: Heralded by the Supreme Court as Fair, Vast Private Judicial System Exposed as Fraud Pam Martens, CounterPunch (hat tip reader Steve V). Today’s must read.
Antidote du jour: