Lunchtime Links 9-15
Warren: “Until we have a credible liquidation threat, we don’t have capitalism in America” (HuffPo) Yeah, we need better resolution authority for big financials, but we should break up banks so that they aren’t large enough to pose a systemic risk in the first place. By the way, for all the folks out there that think the government “made money” when Goldman bought back TARP warrants at a small profit, Warren reminds us that they still have $13 billion of your money that was passed through AIG.
Citigroup explores bid to pare U.S. stake (WSJ) Speaking of the canard that we’re “making money” on the bailout, it’s unfortunate this piece ends by noting that taxpayers are up $9.8 billion on their Citi stock. The reason the equity has positive value is because the rest of the capital structure is being supported by taxpayers. And the ultimate cost of that support is likely to be significant.
Johns Hopkins student kills intruder with samurai sword (Baltimore Sun) Quentin Tarantino eat your heart out.
Kids send Marcus the lamb to slaughter (Reuters) They voted 13-1
11 Craziest Kim-Jong-Il moments (11points.com)
I’ve seen the between-the-legs volley before…but never one this good.