Morning Links 5-28
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…
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.