Felix Salmon

America’s soaring deposit base

With the savings rate skyrocketing, US deposits are rising fast too. Yes, a lot of people probably intend to invest their savings in the market, but you have to save the money first, before you can invest it. And with the market looking a bit rich these days, certainly by the standards of a few months ago, a lot of people, quite sensibly, don’t feel that they want to risk losing any of their hard-earned money anyway. So:

Henry Blodget allows embedded content

Well done to Henry Blodget, who is now allowing anybody to republish his content for free, by embedding posts from his site. Like this:

Hail Nouriel!

Nouriel Roubini False Prophet.jpg

The photo of the day comes from Wall St Cheat Sheet, which has put together this wonderful picture to illustrate a piece entitled “Is Nouriel Roubini a False Prophet?”.

Amazon arbitrage of the day

One of the best travel books ever written (indeed, one of my favorite books, period, ever) is The Surprise of Cremona by Edith Templeton. Unfortunately, it’s not easy to find: your best bet is to track down the 2003 Pallas Athene paperback with an introduction by Anita Brookner.

Place not your hopes in mortgage servicers

Mike Konczal has a spectacularly good post up at Baseline Scenario today about mortgage servicers. He gives a lot of examples of how incredibly bad and/or evil they are at anything to do with loan modification, and concludes:

Adventures in muni league tables

JP Morgan is making a big push into the muni market, by throwing its balance sheet around. It’s lending $1.5 billion to California, in return for getting the mandate to sell $10.5 billion of “revenue anticipation notes” next month; it also provided billions of dollars in support for Illinois, last November, and New Jersey, in June. “We are trying to build up our municipal franchise,” JPM’s Jeff Bosland told Michael Corkery. “With a state the size of California, we have the capability to help on a big scale. People tend to remember you when you were there for them in tough times.”

Felix Salmon, athlete

Not only can I do mad tricks on my scooter, I’m also a baseball great. I’m thinking of taking up the javelin next.

Wednesday links look south

The intersection of Wall and Satan

When I Go Into The Bank, I Get Rattled‘ — a marvelous cartoon

The Economist moves from swanky 57th Street to much-schlubbier 3rd Ave

BusinessWeek’s subscription liabilities

We know that BusinessWeek is for sale. But is there a good chance the print magazine could die completely? That would seem to be the subtext of Keith Kelly’s column today, in which he writes: