Lunchtime Links 4-27
Off Wall Street, worries about financial bill (Lichtblau/Nixon, NYT) Derivative “end-users” don’t want to be forced to post collateral against their positions. They like the cheap leverage that derivatives provide them. What they totally fail to grasp is that without proper safety measures, in particular collateral, counterparty risk threatens the integrity of the market itself. What good is a hedge if the counterparty can’t make good in the end? If hedging becomes more expensive and that leads to increased costs for consumers, then so be it.
Greek debt cut to junk (Davis, Bloomberg) And the price of insuring Greek debt via CDS also hit a record 814 bps.
Computers seized at home of Gizmodo editor who wrote about iPhone (Stelter/Bilton, Media Decoder) Apple has powerful friends in San Mateo County law enforcement. I haven’t followed this closely, but does it really make sense the iPhone prototype was “found” in a bar and found its way into Gizmodo’s hands almost immediately?
Apollo 11 launch revisited in slo-mo HD (boingboing)
We have met the enemy and he is PowerPt (Bumiller, NYT)