Wednesday links translate quite well
Translate the white paper! Mike O’Sullivan’s Financial Reform Glossary
Kedrosky calls California “Latvia by the Pacific“: “while California won’t default, for practical purposes it should”
The new regs: “more like a Windows Service Pack upgrade than a whole new architecture… FinReg Vista?“
“The current generation of managers running Starbucks has just figured out that its stores do not brew enough coffee“
Great stuff from Rortybomb on the white paper. Banning prepayment penalties is a great idea.
Ultrasilliness from Pesek: “Let’s assume for a moment that these bonds are real”. Er no, let’s not. ‘Cos they’re fake.