Afternoon Links 8-19
Why we need to regulate the banks sooner, not later (FT) This op-ed is notable because of its author, Ken Rogoff, and because of a great lead. Overall, he rambles a lot, commenting on the problems festering inside the financial system without really offering a prescription to fix them. But there are some good lines. For instance: “The fact is that banks, especially large systemically important ones, are currently able to obtain cash at a near zero interest rate and engage in risky arbitrage activities, knowing that the invisible wallet of the taxpayer stands behind them. In essence, while authorities are saying that they intend to raise capital requirements on banks later, in the short run they are looking the other way while banks gamble under the umbrella of taxpayer guarantees.”
One person’s boondoggle, another’s necessity (NYT) The most interesting part of this article is the origin of the word “boondoggle.”
Destroying market overcapacity — literally (Kedrosky) Container ships are being scrapped at record rates. Demolition is still the best stimulus.
WaMu Chase sells woman’s home by mistake (justnews)
A troubling source of drug-resistant pathogens: the American farm (Johns Hopkins Mag) Force-feeding antibiotics to livestock is creating drug-resistant super bugs.
Is she really a he? (Daily Mail)
Total eclipse of the flow chart (s3) For music fans…
“Found this disk you were looking for” (imgur) For computer nerds….
Skip ahead to the 2:25 mark. It gets REALLY impressive after 4:00…