Daily Distractions 9-3
Banks need to end $1 trillion kick the can game (Bloomberg) Great column from David Reilly. I’ve been working on FAS 166/167 — the new accounting rules that will force banks to bring assets back onto their balance sheets — and hope to have something to add to the conversation soon.
UK says cash is for buffers (WSJ) Hopefully that’s where it will be allocated.
Captain Morgan may set sail for tax benefits (LA Times)
Sheila Bair and the case against a super regulator (Ed Harrison)
Japan’s new first lady says she rode UFO to Venus (Reuters) “While my body was asleep, I think my soul rode on a triangular-shaped UFO and went to Venus,” Miyuki Hatoyama, the wife of premier-in-waiting Yukio Hatoyama, wrote in a book published last year. “It was a very beautiful place and it was really green.”
Customers angered as iPhones overload AT&T (NYT) No wonder my iPhone reception is so terrible…
Journey into deflation? (Bloomberg TV, via Kedrosky)
For Redskin fan, hard luck runs into team’s hard line (WaPo) A 72 year-old grandmother, who broker her season ticket contract due to financial hardship, was sued by the team. Team wins $66k default judgment.
Cockney cash machines (nickburcher.com)