Commentaries

Dick Parsons has a new private-equity gig — senior adviser to Providence Equity Partners. — New York Times.

More than a third of all asset-backed commercial paper programs were facing bank-like runs within weeks of the credit crunch of August 2007 — Federal Reserve (hat tip Zubin Jelveh)

Who can be the new Pecora? — Washington Post

Phillip Swagel, who helped develop the TARP proposal while at Treasury, takes issue with Tuesday’s Wall Street Journal op-ed that argued it was TARP, not the collapse of Lehman, that stoked the financial turmoil last fall. — Greg Mankiw.

If you believe in the Laffer curve, then taxes in the United States could be raised substantially. — Capital Gains and Games

David Leonhardt says our Felix Salmon is an “astute financial blogger” in a fine column that takes an opposite tack on wage cuts from what our Christopher Swann wrote. — New York Times