Safety Suffers as Stock Options Propel Executive Pay Packages Gretchen Morgenson, NYT
Some of Wall Street’s biggest financial institutions — including Goldman Sachs Group Inc., JPMorgan Chase & Co., Citigroup Inc. and HSBC Holdings Plc — have agreed to a $1.87 billion settlement to resolve allegations they conspired to limit competition in the lucrative credit-default swaps market. … The banks “made billions of dollars in supracompetitive profits” by taking advantage of “price opacity in the CDS market,” the investors said.
So, a $1.87 billion fine in exchange for billions, plural, in profits. That seems fair. Er, any individuals “coughed up” yet?
Are Hedge Funds Still for Suckers? Bloomberg
The cult of Abenomics Macrobusiness
Saudis Are Winning the War on Shale Bloomberg. Methodology change causes IEA to recalculate.
Syria: The (Russian Air) Cavalry Is Coming Moon of Alabama
Pakistan Uses Indigenous Drone to Strike Terrorists The Diplomat
US Now Has Over 1,400 Foreign Military Bases Spread Over 120 Countries: Assange George Washington’s Blog
Jeremy Corbyn faces a dozen shadow cabinet resignations if he wins Labour leadership Independent. Good riddance; saves trouble.
Bernie Sanders plots his path to the Democratic presidential nomination WaPo. Seems like a plan.
The Trumpocalypse: Democrats Rule Blacks by Fear Black Agenda Report
The Next Trump Crusade Washington Monthly. Against the TPP (?!).
When Dictators Die Foreign Policy
The Doublespeak of the Gig Economy The Atlantic
A Smarter Way to Raise Paychecks NYT. Direct subsidies, not a minimum wage.
The intellectual history of the minimum wage and overtime Washington Center for Equitable Growth
The Price Is Righteous Book Forum. Felix Salmon on effective altruism.
What Ever Happened to Google Books? Tim Wu, The New Yorker
How Picasso the Sculptor Ruptured Art History Vulture. This looks like a great exhibition at MOMA in Manhattan, and I wish I could go. But if you’re closer to the city, you can!
You’d have to be smart to walk this lazy… and people are Eurekalert (full text of original in Current Biology).
The Coup in Chile Jacobin (September 11, 1973).
14 Years After 9/11, the War on Terror Is Accomplishing Everything bin Laden Hoped It Would The Nation. 14 years ago today America was attacked by 0 Iraqis and 0 Afghans and 0 Iranians….
Antidote du jour: