World will warm faster than predicted in next five years, study warns Guardian (hat tip reader John D)
Drugmakers Ramp Advertising Campaign For Health Care Reform Michael Shedlock. It isn’t news that Harry and Louise will be returning to a station near you. What is new are the patently ridiculous claims the industry is making in defense of the campaign.
Wells Fargo Buys Mortgage Bonds as Defaults Rise Bloomberg (hat tip DoctoRx). Why am I reminded of BofA’s enthusiasm for Countrywide, and the way Wall Street firms were buying subprime originators in the fall and winter of 2007?
Lobbyists Gain Upper Hand On Obama In Recent Weeks The Hill. In recent weeks? Where have they been? Were they asleep when the banks were taking ground?
SEC Whistleblowers? Independent Accountant
California Foreclosures > National New Home Sales EconomPic Data
U.S. Effort to Modify Mortgages Falters Wall Street Journal. Your truly was skeptical when the program was announced, and had plenty of company.
GE Interest Plus Corporate Notes General Electric. Um, isn’t this an offering? And DoctoRx notes: “Net-based advertising to the public to become UNSECURED general creditors of GE or a subsidiary. (I’ll stick w FDIC stuff for trivial yields.”
BofA planning to cut 10 percent of branches: report Reuters, They just opened a ton in Manhattan and I wondered what they were smoking. There are way more bank branches than coffee shops.
Politicians Accused of Meddling in Bank Rules Floyd Norris. While I agree that piecemeal meddling is bad, has no one considered that the accounting authorities might be captive? This report seems to perpetuate the myth that they are merely benevolent umpires.
Martin Meyer on Credit Default Swaps Jesse. Today’s must read.
Antidote du jour (hat tip reader Barbara):
Two little orphaned wallabies become best of friends at Emerald Monbulk Wildlife Shelter, Melbourne, Australia…
…mirroring each other’s behaviour…