One of the things missing from the Great RSS Truncation Debate (see me, passim, ad nauseam) is much in the way of empirical data. So, in the wake of the WSJ’s recent decision to truncate its blogs’ RSS feeds, it’s going to be interesting to see what happens over at Above The Law. It’s truncating for the next month, and seeing what happens, against the sage advice of executive editor Matt Creamer.
Peter Boone and Simon Johnson have a long and dense post on the eurocrisis today, which has a lot of different diagnoses and conclusions. I don’t agree with all of it, but I do think they touch on something important when they trace it all back to the way that the ECB became a quasi-fiscal agent:
I believe Mark DeCambre’s sources: Goldman Sachs is seeking to settle with the SEC — and with the hedge fund which invested in the “shitty” Timberwolf deal, too. More generally, if you bought any toxic assets off Goldman during the financial crisis, now is probably the best possible time to sue them for losses. And if you hold Goldman stock, definitely keep an eye on those class-action suits.
My panel at the Milken conference was pretty sparsely attended, for good reason: not only was it up against comic-book superheroes, but it was also up against a real-life superhero, Clare Lockhart, who was on the Expeditionary Economics panel and who has some trenchant and compelling ideas about how to fix failed states. I was hoping to grab her for a quick video interview afterwards, but it was not to be, so in her stead I’ve been reading Chris Blattman, who has a couple of blog posts up which are very much in line with her thinking.
Pablo Triana asks, via email, about all that super-senior risk that was sloshing around the financial system when everything imploded in 2008. Did most of it actually need to exist? Or was it a conscious and voluntary decision on the banks’ part to create it and, often, to hold on to it?
Nouriel Roubini, it can be safely said, gives good panel — especially when the subject is the eurozone and the possible disintegration thereof. He’s been bearish on the PIGS in general and on Italy in particular for many years now, but I don’t think it comes as much surprise to him or to anybody else that Greece is the first country really in the firing line.