Lunchtime Links 6-18
Germany says will publish bank stress test results, but only if banks give the ok! (McGroarty/Kissler, DowJones) The healthy banks should encourage their own results to be published.
Calpers to have directors on call (Chon, WSJ) Later this year, the SEC is expected to finalize so-called “proxy access” rules to make it easier for invetsors to nominate their own directors. They can do it now, but they have to run their own proxy campaign, which can be expensive and difficult. The SEC proposal would allow investors to put director nominees on the company’s proxy card. The one investors get every year. Corporate boards and their lawyers are apoplectic about this new rule, fearing their clubby boards will be invaded by unions and pension plans. This move by Calpers looks to solve another issue facing investors that want to nominate directors: where do you find them? Guys like Carl Icahn have a healthy bench of would-be directors. Now Calpers wants one.
Greenspan warns on deficits (Greenspan, WSJ) Don’t be fooled by today’s low interest rates. The government could very quickly discover the limits of its borrowing capacity. Hey Alan, thanks for warning about unsustainable debts, but it would be helpful if you admitted that your famous put inflated the country’s largest ever private credit bubble…and that Bernanke is repeating your mistake…
Housing market slows as buyers get picky (Streitfeld, NYT)
Lenders go after money lost in foreclosures (El Boghdady, WaPo)
Time lapse analemma (johndlowell) Very cool.
Not impressed… (imgur)
How is this even possible? (reddit)