War on the Internet IV: you are the network’s resilience Crikey (hat tip reader Crocodile Chuck)
Wikileaks: Children under care of Irish government ended up in brothels Irish Central (hat tip reader May S)
The 15-M Prepares for the Post-camping Era 15 May Revolution (hat tip Lambert Strether). A wikiparliament is coming!
Atom watchdog chides bombing of Syrian site in ’07 Reuters (hat tip reader May S)
Israeli left-wing leader: IDF used ‘excessive force’ in Naksa Day protests Haaretz (hat tip reader May S)
Colbert or Goolsbee: Who’s the Clown? Institute for Public Accuracy
Geithner warns on light-touch oversight Financial Times versus Is US right about UK’s financial tragedy? Robert Peston (hat tip Richard Smith). Peston was way too polite. It takes a lot of nerve for US bank regulators to lecture their foreign colleagues. Did Geithner somehow miss that it was the US mortgage mess, amped up big time by credit default swaps and CDOs, that caused the crisis? It looks like his themes song is Je Ne Regrette Rien.
The fallacy of financial regulation: neglect of the shadow banking system Michael Pomerleano, Financial Times. Um, Richard Smith wrote about this a full year ago and kept on in in the context of Basel III (see here). And it somehow misses the obvious reason why no one is doing anything serious: it would take a ton of additional capital, as we discussed last August. Would be nice if these economists were faster out of the gate.
Not All Businessmen Are Smart, You Know James Kwak (hat tip reader Carol B)
From cautious optimism to caution Ed Harrison
Is Apparent US Conspiracy with Cisco about Wiretapping? Marcy Wheeler, FireDogLake (hat tip reader Externality)
Chart of the Day: The Death of Small Businesses Mother Jones (hat tip reader Carol B)
Financial Overhaul Is Mired in Detail and Dissent New York Times. What do they mean? This is going according to plan, which was to change as little as possible. The only people who are surprised are those who aren’t watching the men behind the curtains.
Decline and fall of the American empire Guardian (hat tip Buzz Potamkin)
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