Lunchtime Links 1-11
Shoddy tayloring (George Cooper) The author of my favorite book on the financial crisis now has a blog. His first post tears down Bernanke’s recent speech absolving his/Greenspan’s easy money policies for inflating housing bubble. It’s a bit technical, but very good.
Venezuelan devaluation helps Chavez, for others it’s unclear (Molinski/Crowe, DJN) Speaking to economist Steve Hanke last month about North Korea’s devaluation, he predicted that Venezuela would be next. His thoughts today: “Venezuela is in a death spiral. There will be more bad news.”
Hank Greenberg’s self-serving, off-base salvo at Goldman (NakedCapitalism) Smith writes a great take-down of the Greenberg’s “interview” in Saturday’s WSJ.
Banks prepare for big bonuses, and public wrath (Story/Dash, NYT) The writers estimate that Goldman’s pay will average $595k, and JP Morgan Chase investment bankers will average $463k.
Saint Elizabeth and the Ego Monster (Heilemann/Halperin, New York Mag) We already knew that John Edwards is among the phoniest candidates in recent memory, but this has interesting detail. Turns out Elizabeth’s virtuous image was a “mirage.”
All choices lousy for stadium fix (Brown, Cinci Enquirer) When will taxpayers learn that it’s a losing bet to subsidize stadiums? A former professor of mine, Allen Sanderson at UofC, has argued cogently that subsidizing stadium construction is a bad investment.
Dubai’s first foreclosure may open floodgates in world’s worst market (Fattah, Bloomberg)
America slides deeper into depression as Wall St. revels (Evans Pritchard, Telegraph)
Toxic corn (biolsci.org) If I’m reading this right, it says three varieties of Monstanto genetically-modified corn are harmful to your health…