Afternoon links 10-22
CFPA clears house panel (Bloomberg) A step in the right direction.
More aid for Pakistan (Newsweek) But is the money doing any good?
Why mortgages aren’t modified (Ed Harrison)
How the current economy has affected dentists, vasectomies, guns and shark attacks (CoinbyCoin) A good video, though be careful re: his chart of “leverage,” which looks to me like excess reserves in the banking system. A better measure of the economy’s leverage is debt to gdp.
The problem is not TBTF, it’s TDTR (NakedCapitalism)
Pay curbs are not the answer (Reuters) Ken Feinberg’s pay restrictions feel awfully good, but they aren’t enough (not least because only TARP assistance counts as extraordinary. What about TLGP!) What we need is a wholesale redesign of the financial sector. Probably impossible, unless the biggest banks actually fail and have to be rebuilt from the ground up.
Dick Bove says WFC a “standout” bank, downgrades to “sell” hours later (ZeroHedge) See the video for yourself.
Scary good Tom Cruise impression (YouTube)
Job posting: Charmin ambassador (Charmin)
Anvil shooting (for the guys…)