Counterparties

By Felix Salmon
September 15, 2009
Treasury

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53-page Treasury report entitled “The Next Phase of Government Financial Stabilization and Rehabilitation Policies” — Treasury

I kinda love this piece on Malcom Gladwell, “jungle-maned Casanova” — Daily Beast

Can’t all the hipster media outlets just get along? — Gawker

The Washington Post is losing $24 million a month: — WaPo

Judge in BAC/SEC case quotes Oscar Wilde in ruling against Merill bonus settlement — NYT

“The LEICA M9 is the smallest, lightest, highest-quality digital camera ever created by the hand of Man” — Ken Rockwell

Luc Tuymans, a bit of a douche — greg.org

Ben Davis suggests some new targets for Glenn Beck’s art criticism — Artnet

Where the FT wipes the floor with the WSJ: gloriously nerdy articles about negative swap spreads — FT

The massive ghost fleet at anchor off the coast of Singapore — Daily Mail

Why doesn’t the NYT publish source documents? “There‚Äôs not much reason not to publish” them, says Ryan Chittum — CJR

People like wine more when they know it has lots of Parker points. Obvs. — Science Daily

Dan Brown and David Foster Wallace were in the same creative-writing class at Amherst. — NY Mag

Good pro-Kanye, anti-MTV rant from Choire Sicha: “Leave Kanye Alone.” — Daily Beast

<love> — Don’t Judge My Hair

I don’t think these guys understand what “bike lane” means — Twitpic

Comments
3 comments so far

Not to give this more time than it deserves, but Sicha lacks the verbal finesse to conceal her obvious jealousy. MTV is loathsome, but the “angelic White girl” bit was offensive and racist. Swift is beautiful, but without “flava,” which suits me just fine.

Posted by Mike | Report as abusive

That FT article on negative swap spreads is okay, but it contains this egregious line:

“A negative swap spread implies that the credit quality of Treasury debt is lower than that of banks transacting in the money market.”

This is not implied at all. If that were the case, then the yield on 30-year bank bonds would be lower than 30-year Treasuries. You can’t draw conclusions about relative credit quality by simply comparing swap spreads and bond yields, due to the structural differences between the two instruments.

Posted by Nate | Report as abusive

Perhaps I’m simply a worse person than you, Felix, but what caught my eye was ‘the Schtupping Point’.

Posted by the_iron_troll | Report as abusive
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