Counterparties
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Here are a few of our links today from Counterparties.com:
The 30 year return on bonds is higher than equities for the first time in 150 years — Bloomberg
Brad DeLong is not a huge fan of the ECB — Project Syndicate
Germany has $78 billion more than thought after discovering an accounting error — Der Spiegel
Bill Gross wonders how one can solve a debt crisis with more debt — PIMCO
Prince Charles has been offered the veto over 12 UK government bills since 2005 — Guardian
The Treasury Department will hold off on selling more of its 77% share of AIG for now — WSJ
Here’s a good, long piece on the changes Jon Corzine made at MF Global — Reuters
And here’s his MF Global employment agreement — SEC
The more important (but less covered) Herman Cain scandal of the day — Journal Sentinel
Together for a year, Newsweek and the Daily Beast are (surprise!) still not profitable — Adweek
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you really think the Cain financing story is a scandal? $40K in funds to start his organization? Where is the scandal?
The scandal, blades, is that only politically-connected candidates are permitted to run. (Those have access to pre-existing organizational support, and funds left over from prior campaigns, even before they announce.)
If Bill Gross still doesn’t understand basic macro, his investors are going to lose a lot more money.
http://krugman.blogs.nytimes.com/2010/10 /25/sam-janet-and-fiscal-policy/
Regardless of what you think of the finance rules, if the allegations against Cain are true, his campaign has committed a felony. Maybe they can persuade SCOTUS to wipe out the law that they’ve broken, on First Amendment grounds — this is, after all, the Roberts Court, where corporate “persons” generally are accorded more deference than people who do things like breathe, commute, etc — but still, committing a felony is a pretty big deal.
That’s a felony? Seriously? On what charge?
Even after reading the accusations, I don’t have a clue what they were supposed to have done or why it is supposed to be wrong. (Likely why nobody will ever hire me to run a political campaign.)