Now raising intellectual capital
from Rolfe Winkler:
(Reader note: One bug we're still trying to work out is that links in the top line of a post aren't "hot" in the front-page view of the blog. If you click "continue reading" the link is available)
The FBI agent inside the Galleon case (Goldstein, Reuters) More great work from Matt.
MIT team wins DARPA red balloon challenge (darpa.mil) But how did they do it?
Requiem for the dollar (James Grant, WSJ) A fun (and frustrating) piece to read. Grant is a good writer, but he throws provocative comments around without explaining them. He says we need to collateralize the dollar, presumably with gold, but acknowledges early in the article that the gold standard was far from perfect: "The lifespan of no monetary system since 1880 has been more than 30 or 40 years, including that of my beloved classical gold standard..." No doubt he has ideas to improve his "beloved" standard, and that would be useful to read. Too bad he doesn't go into it.
Bair weighs loan principal cuts to fight foreclosure (Vekshin, Bloomberg) Writing off principal is the opposite of extend and pretend. But if Bair wants to pay for it using the Deposit Insurance Fund, she'll have to stay aggressive with assessing insurance premiums on banks.
Royal Bank of Scotland is not best known for backing winners.
So the Scottish bank must be savouring Andy Murray’s run at the Wimbledon tennis tournament.
World number three Murray is one of the “sports personalities of present and past” sponsored by RBS during the heady days of Sir Fred Goodwin.