Faster than light particles found, claim scientists Guardian (hat tip reader barrisj). So if particles can move faster than light, this means our most basic understanding of how things work is wrong (or at best super incomplete). I’ve long thought our cognitive capacities are far too limited for humans to have the foggiest notion of how things really work (I am sure craazyman can do a much better riff on this theme, his smashed pumpkin explanation of egodicity yesterday was spot on).
Opera, Einstein, and Why Economics Is Not a Real Science Peter Dorman, EconoSpeak
Google Unearth: Aussie discovers new treasures from the past – from his office Sydney Morning Herald (hat tip reader Crocodile Chuck)
EU to speed recapitalisation of 16 banks Financial Times. Only the banks that nearly failed the laughably forgiving stress tests.
Spain’s Banking Mess Floyd Norris, New York Times
With a Joint Statement, the Leading Economies Try to Reassure World Markets New York Times. This was the political equivalent of administering a placebo.
Visa, MasterCard to Raise Small-Purchase Fees, Analyst Says Bloomberg (hat tip reader Jim H)
GOP debate: Rick Perry again in the cross hairs in Florida debate Los Angeles Times. Is the plan to bore the electorate to death? A few debates are interesting, but I’m getting debate fatigue, and the election is more than a year away
The men who crashed the world Aljazeera (hat tip reader Glen). If nothing else, a window on how the rest of the world views the financial crisis.
WARREN HITTING UP BANKERS? Politico. You need to scroll down to see this item, but it’s a smear. Expect to see more. Cravath is a white shoe law firm, not a bank, the attorney is a bankruptcy lawyer, Warren is arguably the top bankruptcy professor in the US. So tell me what the problem is?
The real recession never ended MSN Money (hat tip reader Carol B)
Times grow harder for the US working man Financial Times. Buzz Potamkin writes, “They figured that out only now?”
Could Riots Happen Here? Slate (hat tip reader John N)
The Social Contract Paul Krugman. BTW, Krugman was so bummed out about the markets yesterday he needed an antidote du jour. I’ve been bummed out since the crisis was over (or more accurately, since the Obama economics team was appointed, since it was clear nothing would be fixed and we’d have a crappy economy which would hurt a lot of blameless people and another crisis relatively soon). So days like yesterday don’t bother me as much as they ought to. Of course, he has reason to expect people to listen to him, whereas I just tell myself that Sisyphus has the best biceps.
Wells Fargo accused of forging loan documents Las Vegas Review Journal. So much for Wells’ annoying insistence that it is cleaner than the other big banks. Key sentence:
Nevada Attorney General Catherine Cortez Masto is expected to file criminal charges against bank and title company employees, as well as notary publics, over allegations of robo signing.
Kentucky AG Conway Joins Growing Coalition Backing Schneiderman on Foreclosure Fraud Dave Dayen (hat tip reader Carol B). Further confirmation that the settlement talks are not a happening event (save maybe some “peace with honor” face saving efforts).
Countrywide protected fraudsters by silencing whistleblowers, say former employees iWatchNews (hat tip reader Deontos)
Antidote du jour (hat tip reader wawawa). This struck me as particularly funny, in part because the dove employs precisely the same tactic my Abyssinian Blake uses on me, save he goes for very hard head butts to the back of my head accompanied by aggressive purring (this is a feline version of plausible deniabilty: “I’m not being a jerk, really. I like you and I’d like you even better if you got up and fed me.”). And my reactions are a lot like the cat’s.