By Felix Salmon
February 22, 2011
Bank of England

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An important paper by David Miles concluding “that the amount of equity capital that is likely to be desirable for banks to hold is very much larger than banks have held in recent years and also higher than targets agreed under the Basel III framework” — Bank of England

Penguin Group will deliver galleys digitally. About time too — NetGalley

Finances Could Sink Seaport Museum. Not surprising when 2009 revenues were $280k on a $5.2m budget — NYT

Mohamed El-Erian on how emerging economies are terrified of the money dropping from Bernanke’s helicopter — FTTilt

NYC’s searchable map of 311 calls — Lo-Down

Do I believe the NAR is overstating home sales? Yes — Inman, Matrix

Dan Chiasson on Keef. This wonderful book has generated an astonishing number of equally brilliant reviews — NYRB

“The problem is that when politicians have absolute power to name things, they name them after other politicians” — TNY

Gina Trapani on Why and How I Switched to a Standing Desk — Smarterware

Ivory Coast Seizes Four International Banks — WSJ

John Paul II did his official miracle after he’d already died. Does that make it a miracle-squared? — Reuters


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Any thoughts (or good counterparties) on healthcare?

CBO estimates that “H.R. 2, Repealing the Job-Killing Health Care Law Act” as passed by the House which repeals the “Patient Protection and Affordable Care Act” would add $132 billion to the deficit while keeping the PPACA intact would reduce deficits by $119 billion. Both figures over the period of 2012-2019.

Posted by david3 | Report as abusive

In response to El-Erian’s complaint: we keep printing dollars, and people keep buying them. Do they have no other choice? If they bought less of them, would the value of the dollar finally drop?

I don’t want to judge China, but if they let their currency float against the dollar, we might see a realistic valuation for the dollar. Which would be good for everyone, including Chinese consumers. I don’t know if they refuse to do that because they don’t want their holdings diluted, or are afraid of the competition from other economies, but they can’t have their cake and eat it, too.

If there are no consequences for the US printing all that money, we most likely will keep doing it.

Posted by KenG_CA | Report as abusive

Okay, I am about ready to eat crow in our argument re house prices. Not so delicious. So far it seems you were right.

BTW, Felix, you come across as neither scholarly nor high-class in your mocking of the late Pope. Postumous miracles go right to the beginning of Christianity. Think about it.

Posted by DanHess | Report as abusive