Ellen Stewart, Off Off Broadway Pioneer, Dies at 91 New York Times
World’s first flu-resistant GM chickens ‘created’ BBC (hat tip reader John M)
Skepticism and wealthy investors John Hempton (hat tip Richard Smith)
GM and Chrysler, owned by the government, lobby the government Washington Post
The Giffords Tragedy: Is the Media Partly at Fault? Matt Taibbi (hat tip reader Mary S)
Auditors See Rising Defaults in Rural Loans New York Times
SEC Probes Financial Firms on Sovereign Fund Bribes Bloomberg. Had wanted to post on it, but up WAAAY too late. Short form: this is a great opportunity sure to be squandered. Unlike insider trading, which typically involves very junior staff, selling to sovereign wealth funds takes pretty seasoned people and often involves top officers. These probes could be used to get knowledgeble insiders to turn other information but the SEC does not think this way. And any bribery will simply start being laundered through “consultants”.
The US won’t default, even if the debt ceiling stays Felix Salmon
China Just Hiked Its Bank Reserve Ratio Again Clusterstock
Goldman’s pieties go too far Sebastian Mallaby, Financial Times. Good, but the author misses a key issue: thirty years ago, investment banks were far more concerned about propriety and brand image. Yes, they’d still nick customers, but much less blatantly.
Can Europe Be Saved? Paul Krugman, New York Times. This account will be old hat to reader of the financial press, but a good summary for laypeople who’ve decided to get up to speed.
The risks of raising interest rates too quickly Martin Wolf, Financial Times
This time may truly be different – balance sheet adjustment under population ageing Kiyohiko G Nishimura, a January 7 speech posted at the Bank of International Settlements (hat tip reader Don B)
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