Morning Links 5-28

May 28, 2010

For some people, CDOs aren’t a four-letter word (Goldstein, Reuters) Great sleuthing from Matt. He tells the story of Donald Puglisi, who continues to make major bank as the rubber-stamp independent director for toxic CDOs.

Wall Street’s War (Taibbi, Rolling Stone)

FASB’s mark-to-mayhem (Alloway, Alphaville)

“Housing production credit crisis”? (CR) There is still a huge overhang of shadow inventory. 7.3 mln homes in foreclosure or in default. Not all of the defaulted ones will end up being repossessed by the bank, but the point is that there’s not shortage of inventory. We don’t need to stimulate supply…

PIC: Oil spill operations overview (OilDrum, ht CB) A fish’s-eye view. Plus, another new BP logo.

Drilling for certainty (Brooks, NYT)

The web shatters focus, rewires brains (Carr, Wired) “Even as the Internet grants us easy access to vast amounts of information, it is turning us into shallower thinkers, literally changing the structure of our brain.”

Critics destroy “Sex and the City 2″ (Rust, AtlanticWire) Don’t count on box office figures to suffer…

Buffett subpoenaed to testify before Crisis Commission (Fortune, ht Ed Harrison)

VIDEO: 8 month old reacts to ear implants that let him hear for the first time (YouTube) Priceless.

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Linking to the neo-cons’ greatest water carrier re: the Gulf disaster is regrettable. As anyone who has read the WSJ account of the accident two days ago can instantly surmise, there were corners cut and steps ignored that were standard operating procedure for any ORDINARY oil platform of the last thirty years: 052748704026204575266560930780190.html?m od=WSJ_hps_LEADNewsCollection

Let Brooks regurgitate Taleb’s ‘Fooled by Randomness’ to the conservative demographic of the NYT who would never read the book. Your readers deserve better-MUCH better.

Posted by crocodilechuck | Report as abusive