Links 11/12/09

Thanks for your kind notes, I am getting better, but now even more behind the eight ball than ever, aaargh, and now have page proofs to contend with. This book process never ends.

Dog lost in Afghan battle returns BBC

China’s Empty City China Digital Times (hat tip reader Michael)

Why Jim Rogers Isn’t Buying The Equity Rally Clusterstock. Interestingly, Rogers likes other commodities better than gold.

Biotech Enters A New Phase h+ (hat tip reader Sugar Hush)

Unsolicited Principal Reduction Offer from BofA Calculated Risk. Dwight, who got the h/t on the post, sent these further comments:

Even after the 112k principal reduction on the front end the homeowner (in divorce)
is still 83k underwater plus about 25k in closing costs to complete a short sale.
Because the new 30 year loan amortizes over 40 years there is a balloon payment on the back end.

So unless the 2nd TD agreed to zero for satisfaction of its position and the housing market
had a miraculous recovery I concluded they should reject the bank’s offer and move forward
with a short sale.

The Real Threat to Fed Independence Henry Kaufman, Wall Street Journal. It’s always refreshing to see a Wall Street greybeard cut the industry no slack.

Job Woes Exacting a Heavy Toll on Family Life New York Times

FDIC Decision Due Out Soon Bruce Krasting

World Tries to Buck Up Dollar Wall Street Journal. Louvre Accord 2.0, anyone?

As Shipping Slows, Banks and Carriers Fear Loan Defaults New York Times. We’ve warned of shipping industry woes for some time.

Japan Credit-Default Swaps Seen Unraveling on Aiful’s Bad Debts Bloomberg

Antidote du jour:


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  1. fresno dan

    I was disappointed in the Biotech article also. I thought it was going to note the 6th successful instance of gene jockies curing a disease.

  2. MyLessThanPrimeBeef

    I hope the kitty is going be as lucky as my cat.

    A while back as my cat achieved working age, I told him that if he could do a good job of keeping me entertained everyday, then, when he reached the cat equivalent of human retirement age of 65, I promised to pay him social security in his old age. I also told him in order for me to do that, I would have to deduct a bit of his cat food everyday to be put away in a lockbox and invested to fund his pension.

    Of course, my cat didn’t and still doesn’t know it is just an accounting entry right at this moment, as I have hocked it to pay for my underwater mortgages. But since I am a decent, honest guy, I plan to put all the kibbles back into the lock box when he is close to his retirement.

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