Honeybee mobs overpower hornets BBC ‘Lost boy’ who fled Sudan tells of his 4,000-mile trek Guardian Latvian Banker Taking Souls as Collateral CNBC (hat tip reader Nick) Bank crisis for prostitutes Ed Harrison The Laptop, Circa 1968 Technologizer Not Much Relief New York Times. The Times officially endorses principal reduction. So Many Foreclosures, So Little […]
Read more...Submitted by Edward Harrison of Credit Writedowns. This post is from Niels Jensen of Absolute Return Partners. I have featured his monthly newsletter a number of times on Credit Writedowns (here’s the link to the last one, hilarious title). Jensen is very good. Visit www.arpllp.com to learn more about Absolute Return Partners and to sign […]
Read more...Amur tigers on ‘genetic brink’ BBC How hedge fund wives are learning to cope Times Online (hat tip reader Laurie). It’s even worse than you might think. Helen Thomas Blasts White House Control Of Press Boom2Bust Solving the Peter Principle? One Word: “Darts” Paul Kedrosky How Bureaucracy prepares for Social Collapse Brenda Rosser, Econospeak. Wow, […]
Read more...Dear readers, we are NOT setting out to have a Willem Buiter-fest this weekend. It’s simply that this is a slow news period and Buiter has a good post after the first video clip I’ve ever seen of him. So if there was more activity, the Buiter-density would be lower. The Anglophile Dutch economist has […]
Read more...Michael Lewis has a generally very good piece in Vanity Fair on the AIG Financial Products mess, filing in some bits that were missing from the equation. He does go a bit overboard in saying nice things about Jake DeSantis, the man who wrote the New York Times “Dear AIG: I Quit!” op ed. To […]
Read more...Submitted by Edward Harrison of Credit Writedowns. Just when you thought things couldn’t get any more questionable in Washington, then along comes this (hat tip Tom). Washington Post publisher Katharine Weymouth said today she was canceling plans for an exclusive "salon" at her home where for as much as $250,000, the Post offered lobbyists and […]
Read more...New dinosaurs found in Australia BBC. So Australia has long had different critters than everywhere else, it seems. Computer reveals stone tablet ‘handwriting’ in a flash New Scientist Footage of last ever Michael Jackson rehearsal released Times Online. Yes, this is morbid, ibut I was particularly taken with his dancing. He looks so gaunt. But […]
Read more...Willem Buiter touches on the state of bank lending and proposals for financial services industry supervision. Enjoy!
Read more...Any takers? Some smart publisher types have noticed our reviews and are sending blurbs. If interested, ping me at yves@nakedcapitalism.com with your coordinates and a bit about your background. Thanks! The first is A COLOSSAL FAILURE OF COMMON SENSE: The Inside Story of the Collapse of Lehman Brothers by former Lehman VP Lawrence G McDonald. […]
Read more...The dour consumer sentiment readings said that the great unwashed are smarter than the financial talking heads. They had ceased to be impressed with the “green shoots” theory. Lo and behold, worse than expected employment data has proven them right. We’ve pointed out that the Carmen Reinhart/Kenneth Rogoff analysis of past severe financial crises suggests […]
Read more...Submitted by Edward Harrison of Credit Writedowns. Yves said her piece about the new affordable FHFA program to allow home ‘owners’ in negative equity to stay in their homes. And I had a crack at it yesterday as well. But, I have some thoughts to run by you here using a specific example of an […]
Read more...Chimpanzees learn from video demo BBC Ant mega-colony takes over world BBC Nuns in the U.S. Are Facing Scrutiny by the Vatican New York Times Few survive cardiac arrest, even with hospital CPR PhysOrg. Yes, but you are supposed to keep doing CPR until someone can do something to get the heart going, like defilibrate. […]
Read more...Lordie, is the media incapable of doing anything more than writing up official remarks? This is the latest headline, the lead story on the Bloomberg home page right now: Dollar Gains as China Says ‘Not Aware’ of Reserve Currency Talk That is a very curious remark, given that the central bank, a mere week ago, […]
Read more...Submitted by Leo Kolivakis, publisher of Pension Pulse. I hope every Canadian enjoyed their time off July 1st for Canada Day. I am off to the Land of Zorba tomorrow (the island of Crete) for the baptism of my three nephews. I am looking forward to being with my family but I dread the hustle […]
Read more...If you had any doubt that the intent of policy, such as the heroic efforts by the Fed to channel money to the mortgage market my manipulating spreads of mortgage paper so as to lower borrowing costs, was not merely to clear inventory but boost prices, today’s action should put your mind at rest. The […]
Read more...