Now raising intellectual capital
from Rolfe Winkler:
Shoddy tayloring (George Cooper) The author of my favorite book on the financial crisis now has a blog. His first post tears down Bernanke's recent speech absolving his/Greenspan's easy money policies for inflating housing bubble. It's a bit technical, but very good.
Venezuelan devaluation helps Chavez, for others it's unclear (Molinski/Crowe, DJN) Speaking to economist Steve Hanke last month about North Korea's devaluation, he predicted that Venezuela would be next. His thoughts today: "Venezuela is in a death spiral. There will be more bad news."
Hank Greenberg's self-serving, off-base salvo at Goldman (NakedCapitalism) Smith writes a great take-down of the Greenberg's "interview" in Saturday's WSJ.
Banks prepare for big bonuses, and public wrath (Story/Dash, NYT) The writers estimate that Goldman's pay will average $595k, and JP Morgan Chase investment bankers will average $463k.