(Reader note: still working on
MUST READ — Strict framework leaves room for maneuver (Masters/Jenkins, FT) While this subject may seem a little dry, it’s the Basel Committee in Switzerland that will lead the way when it comes to how banks measure capital and how much they need to have. I’ll offer more detailed thoughts on this later today.
Saab to be shuttered (Reuters wire) More creative destruction in the auto industry. In the end, the best Saab could do was sell the intellectual property for the 9-5 and 9-3 sedans…
China central banker says harder to buy Treasuries (Xin/Subler, Reuters) How ironic. The current account deficit is shrinking as the import/export imbalance with China is shrinking. So we’re not stuffing as many dollars down China’s throat which it is forced to recycle into Treasuries. Watch out for calls to buy Chinese so that the Treasury can finance its deficits!
China asset bubbles will burst on inflation (Chen, Bloomberg)
Greenspan backs deficit reduction commission (Ferraro/Sullivan, Reuters)
Harvard swaps are so toxic, even Summers won’t explain (McDonald/Lauerman/Wee, Bloomberg)
Has dark matter finally been detected? (Sample, Guardian)
Probably not good on the eyes (imgur)
You’re on the naughty list Jack…