Take a sensible approach to air security CNN. Debunks popular perceptions of how much damage the shoe and underwear bombers could have done.
Why is homeland security enforcing the nation against music downloads? Michael Perelman, EconoSpeak
China Warns U.S. as Korea Tensions Rise Wall Street Journal
Bid to knock Rahm Emanuel off ballot for Chicago mayor: Can it succeed? Christian Science Monitor. We can only hope….
CBS Joins the Attack On Social Security Dean Baker
Starve the Beast: Just Bull, not Good Economics Bruce Bartlett, The Fiscal Times (hat tip Mark Thoma)
Holiday hunger Economic Policy Institute. Remember, food stamps are modern era soup kitchens.
Winning the Class War Bob Herbert, New York Times
Core at Zero Menzie Chinn, Econbrowser
The Give and Take of Liar Loans Joe Nocera, New York Times. Good info on Countrywide’s two-faced stance, but Nocera gets the rep and warranties legal issues wrong. Misrepresentation alone is not sufficient. In crude terms, the misrepresentation has to be material and it also has to have led to a loss. And since the plaintiff has the burden of proof, he must demonstrate that the misrepresentation, as opposed the economy hitting the wall, is the reason a particular loan went sour.
The continuing fight against overdraft fees Felix Salmon
Second-Mortgage Standoffs Stand in Way of Short Sales Wall Street Journal. When the biggest holders of seconds are TARP banks, how did the Journal manage to make as its centerpiece a servicer owned by Shinsei, a Japanese bank? The story manages to be narrowly accurate yet refuses to talk about the normal elephant in the room.
Strongest argument against a State default has disappeared Irish Times (hat tip reader Don B)
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