Dear patient readers,
I wish I were on a holiday schedule, and hope many of you are by now, but I am making changes on the index and having my final go at page proofs! So apologies for the thin posts. I hope to provide a tad more Tuesday evening, but no guarantees, but should be closer to normal programming by Wednesday evening.
Social unrest ‘on the rise’ in China BBC (hat tip reader Paul S)
Potatoes, algae replace oil in US company’s plastics Raw Story (hat tip reader John D)
Taxpayers Help Goldman Reach Height of Profit in New Skyscraper Bloomberg (hat tip reader Vinny G). I am told by the boyfriend of a Goldman employee that it it is a very nice new building, so we should all be pleased our money was so well spent.
Collapsed Lehman pays out big bonuses Financial Times
If Wall Street Ran the Airlines … James Kwak. He wants you to read it for the quote by a Goldman trader at the end, but I think the AEI “oh, if customers didn’t want to be imprisoned on airplanes, the market would have provided it” rubbish (everyone affiliated with the AEI clearly was sleeping when their teacher covered material like “barriers to entry”) is equally true to dubious form.
John Taylor says that the Fed could sell its MBS without having a material impact on interest rates Richard Green. He has yet to read the paper, and I have not yet either…apologies…
Uncharted Waters David Merkel. This is Greenspan on steroids. He engineered a steep yield curve in the wake of the S&L crisis to recapitalize banks on the cheap.
US Treasury – Deep Thinking? Bruce Krasting. Be sure to look at the memo, it’s hysterical.
Leadership, Obama Style, and the Looming Losses in 2010: Pretty Speeches, Compromised Values, and the Quest for the Lowest Common Denominator Drew Westen, Huffington Post (hat tip Marshall Auerback). Today’s must read.
Antidote du jour: