Evening Links 6-7
Betting on the bad guys (Adams, WSJ) From the cartoonist behind Dilbert.
Consumer credit increases slightly in April (CR) Credit excluding mortgage debt is back on the rise…ever so slowly…and probably not for long…
Fed paper: Effective homeownership rate much lower than official rate (NY Fed) The official rate from the Census Bureau was 67.2% at the end of ’09. But back out those with negative equity, and the rate is 5.6% lower. And that’s using optimistic house price indices from OFHEO and FHFA. Using Case-Shiller, the homeownership gap is much worse.
BofA settles Countrywide overbilling scams for $108 million (Wyatt, NYT) As mortgage bonds increasingly went bad, Countrywide’s servicing business had to find ways to squeeze out profits. This was a particularly slimy way to do that…
New iPhone presentation crashes on, you guessed it, network trouble (Gizmodo) The crowd laughs it off. iPhone users everywhere unsurprised.
20 years of growth in Shanghai (skyscrapercity)
Parenting Fail (Abrams, Asylum)
Funny: Calvin and Hobbes on capitalism (imgur)