Floods hit Australia tourism Raw Story
Toxins found in pregnant U.S. women in UCSF study (hat tip reader May S). Pretty scary.
U.S. journalists back away from WikiLeaks founder McClatchy (hat tip reader May S)
Still fighting against own cause Politico (hat tip Joe Costello)
No One Listened to Gabrielle Giffords Frank Rich
Sin of Omission By Geithner in Chest-Thumping Over Tax Cut Deal Dave Dayen, FireDogLake
Evidence of an American Plutocracy: The Larry Summers Story Matthew Skomarovsky (hat tip reader May S). There is so much Summers sleaze that even this account misses some: how he tanked the Harvard endowment, and his appalling defense of chicanery in Russia via a Harvard funded initiative (professor Andrei Shliefer has still not been properly held to account).
China at a Crossroads: Trade Tensions Vie with Consumer Needs Knowledge@Wharton (hat tip reader Michael Q)
Dongguan Ghost Mall And China’s Property Boom Ed Harrison
Wall Street’s Secret Society Inducts Members With Lehman Video Bloomberg. The troubling part is that regulators feature prominently among the membership.
Number of the Week: Big Banks Gobble Up Market Share Wall Street Journal. One big reason is that the biggest banks have a TBTF funding advantage.
Is JPM Covering Up a Naked Silver Short Held By China As a Claim Against the Yanks? Jesse. Read the piece, but this is the money quote:
Given the current state of the US banking industry, the regulators are afraid of what a default on the Comex by the poster child of the Wall Street Banks recovery would do to investor confidence. So they are trying to kick the can down the road.
Antidote du jour: