Greece explodes, Italy ticks MacroBusiness
Big Banks Betting on the Euro Kent Willard
Greece Stands by Referendum Wall Street Journal
Consent Needed for Debt Repayments Michael Hudson, Credit Writedowns
Creditors can huff but they need debtors Martin Wolf, Financial Times
Worry Builds for Deficit-Panel Deal Wall Street Journal
Exclusive: Romney Family Investment Group Partnered With Alleged Perpetrators Of $8 Billion Ponzi Scheme ThinkProgress (hat tip reader furzy mouse)
Cain Accuser Got a Year’s Salary in Severance Pay New York Times (hat tip reader furzy mouse)
Time for us to challenge the idols of high finance Rowan Williams, Financial Times. This is the lead op ed in the Financial Times. Why we don’t see anything comparable from US religious leaders?
Mayor 1% joins the Limbaugh chorus Digby (hat tip reader Carol B)
Biometric Door Locks and Bulletproof Windows: How Occupy Wall Street Is Scaring the Heck out of the 1% Alternet (hat tip reader furzy mouse)
The Looming Occupy Foreclosures Movement Dave Dayen, FireDogLake (hat tip reader Carol B)
In Corzine Comeback, Big Risks and Steep Fall New York Times
MFing Global TFMetals (hat tip reader Ted L). The bit about Corzine being sent by Goldman to do in competitors is a bit hard to swallow, but most of the rest of the post is useful and likely valid. I used Lind Waldock briefly, and all the people at O’Connor who traded futures swore by them. They were very professional. Sad.
All MF Global Funds Accounted For Bloomberg. Who paid for this headline? The story actually says the MF Global lawyer gave an optimistic reading, but the regulators are still digging. Contrast with: MF Global’s Collapse Draws FBI Interest Wall Street Journal.
Administration Favors Settling With Banks on Criminal Actions They’re STILL Engaged In Dave Dayen, FireDogLake
LPS: Foreclosures delinquent an average of 624 days Housing Wire. Per Adam Levitin, about seven or eight month of that is keeping borrowers in a “sweatbox” to maximize fee extraction. In addition, reports are rife that banks are keeping borrowers in homes in area where the inventory in already high (ie the home won’t sell quickly) so they are liable for property taxes.
In Retreat, Bank of America Cancels Debit Card Fee New York Times
A vicious cycle in the used-car business and Investors place big bets on Buy Here Pay Here used-car dealers Los Angeles Times (hat tip Dave Dayen)
Antidote du jour: