BofA’s counsel had no legal authority in Merrill deal (DeCambre/Wilner/Whitehouse, NY Post)
Congress agrees to keep homebuyer tax credit (NYT)
Fitch downgrades Ireland (Kennedy, Marketwatch)
Berkshire may lose AAA rating from S&P on Burlington deal (Frye, Bloomberg)
The deferred tax asset disaster (Tracy Alloway, Alphaville) A very helpful reminder from Tracy about DTAs. Banks still count these as capital (and yes, it’s included in TCE) even though, in a stressed situation, they don’t provide any cushion whatsoever to absorb losses.
In Somalia, cheap mobile calls help more young couples elope (Skeikh, Retuers) Stick with the article to the second page in order to get the gist.
Zimbabwe plane veers off runway after colliding with warthog (David Smith, BBC)
Film-makers want government money (Schweizer, Bloomberg)
The viper logo upside down is daffy duck (imgur)
Hilarious….the “action” shots in the middle are the best
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soo…. is that chair the modern version of the machine that would vibrate a belt around your waist and shake your gut around? I thought we’d moved past the stage of thinking just because your body is moving then you must be getting excercise…
- Posted by Andrew