Opinion

Felix Salmon

Counterparties

Nick Rizzo
Dec 8, 2011 02:43 UTC

Here’s the leaked report from European Council President Van Rompuy  — FT

Herman Achille Van Rompuy has been said to have the “charisma of a damp rag” — Reuters

Greek deposits continue to fall – Spiegel

These charts show that it’s hard for the US to decouple its economy from Europe — Tim Duy

These charts show that the ECB might have to start printing money — VoxEU

And these charts show who’s dropping out of the US labor force — Modeled Behavior

The 30-year-old MF Global bankruptcy “boy wonder” who despises Corzine — Fortune

A well-reported portrait of what it’s like to be dragged into poverty — HuffPo

And the Gingrich campaign still has a lot of debt, half of it for private jets — WaPo

Counterparties

Nick Rizzo
Dec 6, 2011 22:24 UTC

Uh-oh: construction’s grinding to a halt in Chinese “ghost towns” — WSJ

I’m a big fan of Paul Krugman’s headline pun — NYT

Corzine suggested he’d quit if board members didn’t trust his MF Global Euro bet — WSJ

After promising not to, Wall Street firms have re-violated fraud laws at least 51 times — NYT

Be afraid of a run on the shadow banking system — WSJ

This is grisly: for-profit hospices are paying referral fees for dying patients — Bloomberg

Romney spent $100,000 in state money to erase his gubernatorial record — Reuters

A list of historical figures Newt Gingrich has compared himself to — The Atlantic Wire

Yahoo prepares to battle a brain drain — WSJ

Sorry, “international waters” is not itself a business model — Atlantic Cities

Why does the police department of Tampa, Florida need a tank? — The Daily

COMMENT

Rizzo, a suggestion: Just put “(paywall)” next to a link if it’s like the WSJ situation. You choose your counterparties, we choose whether to click

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Counterparties

Nick Rizzo
Dec 5, 2011 23:03 UTC

Mario unveils a new austerity budget to rescue the princess save Italy’s credit rating — NYT

But Stiglitz argues that cutbacks aren’t what the euro zone needs — Project Syndicate

And despite Merkozy’s deal, S&P could downgrade 15 euro nations — Bloomberg

Look what’s driving public debt in the major European economies — Touchstone

The worldwide decline of “safe” assets — FT Alphaville

Goldman: home prices will drop another 2.5% before bottoming out — FT Alphaville

Bank deposits are up, but it’s “hot money” — WSJ

The Connecticut town where one-third of the population is over 60 — NYT

And Google and Facebook might already receive half of global digital ad spending — AllThingsD

COMMENT

Another link for you, given you insisted on giving the Bloomberg stories – and the regurgitations in ProPublica – a public hearing. Some of these statements are rather familiar to me…..

http://www.federalreserve.gov/generalinf o/foia/emergency-lending-financial-crisi s-20111206.pdf

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Counterparties

Nick Rizzo
Dec 3, 2011 02:01 UTC

Soros: The global financial system is in a “self-reinforcing process of disintegration” — WSJ

US economy adds 120,000 jobs, unemployment rate falls to 8.6% — BLS

Brad Plumer: Why Americans are leaving the labor force in large numbers — Washington Post

Rogoff: 5 big problems with capitalism as we know it — Project Syndicate

Shiller: The best advice I ever got is to ignore celebrities — Fortune

Mentioning a company on CNBC raises its stock price (pdf) — UC Berkeley

90% of bachelor’s degree recipients graduate with less than $40,000 in debt — NYT Economix

And hedge funds are trailing the market to the tune of about 6% this year — The Economist

COMMENT

@minderbinder Good catch! It was on Klein’s wonkblog, and I stupidly didn’t see the byline. (Sort of the way people think Counterparties is written by Felix.) It’s fixed now. Thanks for noticing.

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Counterparties

Nick Rizzo
Dec 1, 2011 23:49 UTC

The Euro debt crisis in 8 graphs — Washington Post

Mario Draghi: Time for the “Euro area design” to adapt — ECB

Why unlimited monetization and eurobonds are right around the corner — Credit Writedowns

Here’s the full Massachusetts AG’s foreclosure practices lawsuit — Mass.gov

Foreclosures are at an all-time high, but mortgage delinquencies are down — LPS

“The hacking scandal could be the best thing that ever happened to News Corp shareholders” — Bloomberg

Om Malik thinks Yahoo’s like “salmon farmed on carcinogens” — GigaOm

And Tom Glocer, my boss’s boss’s boss’s boss’s boss, is out — Reuters

COMMENT

Here’s something for ya on why households who can observe the same stock market data think differently about investment potential. http://bit.ly/uY1hzJ

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Counterparties

Nick Rizzo
Dec 1, 2011 00:27 UTC

Why France may now be the biggest obstacle to ending the Euro crisis — WSJ

Understanding Corzine’s bet on Europe — DeLong

To fix bank executive compensation, tie it to CDS spreads — Dealbreaker

Brad DeLong (again): We have a moral obligation to tax the rich at the peak of the Laffer Curve — Project Syndicate

Why is Schwarzman supporting Romney? Bain Capital made him a lot of money — Bloomberg

In a fit of billionaire whimsy, Warren Buffett buys his hometown newspaper — Reuters

Silver Lake thinks $16.60 a share is a good price for a chunk of Yahoo — Bloomberg

COMMENT

@DanHess Just to quickly set the record straight, I do the Counterparties roundup posts, not Felix, and I’m American. I was also merely linking to DeLong’s position, not necessarily agreeing with it myself. We link to lots of posts that we disagree with.

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Counterparties

Nick Rizzo
Nov 30, 2011 01:43 UTC

Some of today’s many stories from Counterparties.com. Now with extra underlinks! Check it out.

“War games” – How companies are already contingency planning for a Euro breakup — Reuters

Ex-NOTW editor: “You have to be cleverer than the criminals” — Guardian

S&P cuts ratings for all “Big Six” banks — WSJ Marketbeat

RIM is apparently willing to have its customers use better phones made by competitors — WSJ

$200 million from MF Global’s customers turns up at British JP Morgan Chase — Dealbook

George Packer paints a great portrait of one occupier of Wall Street — New Yorker

John Heilemann: Is 2012 the same as 1968? — New York

Keith Gessen writes about his arrest in New York City — New Yorker

Thomas H. Lee is looking at buying out Yahoo’s US business — Reuters

And the Little Printer That Couldn’t Do Anything – BergCloud

COMMENT

The 1920s style piano music in the Little Printer ad is highly appropriate.

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Counterparties

Nick Rizzo
Nov 29, 2011 00:19 UTC

Is it cheaper for Germany to bail out EU countries rather than leave the euro? — Washington Post

Weisenthal and Platt question the importance of debt-to-GDP ratios. It’s possible they didn’t read all of This Time Is DifferentBusiness Insider

James Surowiecki argues that Italy and Spain are still saveable — The New Yorker

While Wolfgang Munchau says the euro zone could be only days from collapse — DeLong

Daniel Kahneman: “Emergent weirdness is a good bet” — Freakonomics

“Fitch slams US indecisiveness, delays AAA rating decision” — FT Alphaville

Krugman gleefully quotes Greenspan getting everything wrong in 2005 — NYT

3 Connecticut Gold Coast money managers win $254 million from the lottery — Greenwich Time

The Silicon Valley startup that built the “matrix” behind the War on Terror — BusinessWeek

And a long, controversial, intriguing piece on the mysteries of l’affaire DSKNYRB

COMMENT

wow. that NYRB story on l’affaire DSK is really cool. It reads like something outta “La Femme Nikita” and its ‘Plunge Protection Team’. I look forward to the DSK espionage movie.

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Counterparties

Nick Rizzo
Nov 25, 2011 23:00 UTC

A really good overview on Angela Merkel saying “nein” to euro bonds — Spiegel

John Muellbauer: The solution to Europe’s crisis? Conditional euro bonds — Vox EU

European banks still have trillions of dollars of bad loans they’re unable to sell — IFRE

Is Canada’s current housing market frothier than pre-crash America? — The Economist

Why MF Global’s auditors could rubber stamp risk at Goldman, JP Morgan — Bloomberg

The AT&T / T-Mobile deal looks pretty unlikely to be approved — NYT

The Rise and Fall of Bitcoin — Wired

And Dan Primack argues that the internet bubble 2.0 may not have burst yet — Fortune

COMMENT

Call it blind patriotism if you choose, but I think there is a simple reason why Canada, Australia and Sweden are NOT due to the same calamity as America. The first big factor is that these are smaller countries with stable/strong economies that invest next to nil in their militaries and have vibrant multi-party discussions. Second is that while foreign investment is helping to drive prices skyward, those investments are fully paid upfront so the kind of calamity that befell America in regards to massive foreclosures has a next to nil chance. Is the Canadian housing market overpriced? Sure, but is it due for a stunning crash on the order of 25%? I wouldn’t take that bet on any terms.

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