Animal intelligence: sheep are raising the baa Sydney Morning Herald (hat tip reader Crocodile Chuck). The video is great, but now I’m gonna feel even worse on those rare occasions when I eat lamb chops.
Mali: A Gift Economy Forbidden Knowledge (hat tip reader Dwight)
NY Fed: 2005 Bankruptcy Bill Led to Hundreds of Thousands of Unnecessary Foreclosures Dave Dayen, FireDogLake. A bit late to this, but worth noting.
The Great British Corporate Tax Giveaway Lee Sheppard, Forbes
Spain orders drastic caja clean-up to win confidence and fight off EMU debt contagion Ambrose Evans Pritchard, Telegraph
Live from Cairo (19) Lambert Strether
Repo Runs jck
Commodities are overbought: Marc Faber Commodities Online (hat tip Ed Harrison)
WTI-Brent price divergence hits record $16 Financial Times. Storage capacity in Cushing is very limited; it’s a favorite place to play games. But this is both egregious and embarrassing.
‘Parasitic’ sugar speculators blamed for volatility BBC (hat tip reader furzy mouse)
Ship of Knaves Simon Johnson, Economix
Dimon Calls Fannie, Freddie ‘Biggest Disasters of All Time’ Bloomberg. If you had any doubts about the intellectual honesty of Jamie Dimon, this should settle them. No chieftan of a TBTF bank, particularly a major clearing bank, should taken seriously when they try to assign blame for the crisis to outside actors.
Arithmetic and the Fannie/Freddie Fix Dean Baker. This is actually pretty cool.
Court Revives Suit Over Blackstone I.P.O. New York Times. Couldn’t happen to a more deserving bunch.
Foreclosures, house prices, and the real economy Atif Mian, Amir Sufi, Francesco Trebbi, VoxEU
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