Lunchtime Links 1-12

Jan 12, 2010 17:53 UTC

China surprises with bank reserve hike (Xin/Rabinovith, Reuters) The Fed could learn something from the PBOC. This sudden move to tighten bank lending maintains the PBOC’s reputation for acting without warning. If the Fed had a similar rep, U.S. lenders wouldn’t be so cavalier taking interest rate risk.

Special bankruptcy court for banks mulled in Senate (Younglai, Reuters) Interesting proposal for Dodd’s Senate financial reform bill. Can’t really comment until details are made available.

Citi unit grows — with Fed’s help (Enrich, WSJ) The fact that Citi subsidiary GTS is so important to the global financial system — and that its failure would be disastrous — is a good argument that regulators should find a way to wind it down…

Obama weighs tax on banks to cut deficit (Calmes, NYT) No details here either, but I expect whatever is proposed to pass, as the proposal will come not long after banks announce bonuses. Plan would raise as much as $120 billion. Taking money away from the financial sector, including its customers, is a necessary step towards de-leveraging the economy.

Devaluation sparks chaos in Caracas (Lyons/Crowe, WSJ)

Single stock dividend futures launched (Hedgeweek, ht Nick Gogerty) Not sure what the value of these is, but Nick points out that the leverage available to those trading futures means someone in need of a trading fix will get it…

Mark McGwire admits using steroids (ESPN) He cries a lot, complains of the pressure he was under and the difficulty of a 162 game schedule.

At a mighty 104, gone while still going strong (Fernandez/Schmidt, NYT)

Expense reports (Dilbert)

You played the joker too, right?



Jack is NOT amused. LOL!

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Lunchtime Links 1-11

Jan 11, 2010 15:41 UTC

Shoddy tayloring (George Cooper) The author of my favorite book on the financial crisis now has a blog. His first post tears down Bernanke’s recent speech absolving his/Greenspan’s easy money policies for inflating housing bubble. It’s a bit technical, but very good.

Venezuelan devaluation helps Chavez, for others it’s unclear (Molinski/Crowe, DJN) Speaking to economist Steve Hanke last month about North Korea’s devaluation, he predicted that Venezuela would be next. His thoughts today: “Venezuela is in a death spiral. There will be more bad news.”

Hank Greenberg’s self-serving, off-base salvo at Goldman (NakedCapitalism) Smith writes a great take-down of the Greenberg’s “interview” in Saturday’s WSJ.

Banks prepare for big bonuses, and public wrath (Story/Dash, NYT) The writers estimate that Goldman’s pay will average $595k, and JP Morgan Chase investment bankers will average $463k.

Saint Elizabeth and the Ego Monster (Heilemann/Halperin, New York Mag) We already knew that John Edwards is among the phoniest candidates in recent memory, but this has interesting detail. Turns out Elizabeth’s virtuous image was a “mirage.”

All choices lousy for stadium fix (Brown, Cinci Enquirer) When will taxpayers learn that it’s a losing bet to subsidize stadiums? A former professor of mine, Allen Sanderson at UofC, has argued cogently that subsidizing stadium construction is a bad investment.

Dubai’s first foreclosure may open floodgates in world’s worst market (Fattah, Bloomberg)

America slides deeper into depression as Wall St. revels (Evans Pritchard, Telegraph)

Toxic corn ( If I’m reading this right, it says three varieties of Monstanto genetically-modified corn are harmful to your health…

Childproof drawer…


Moin from Germany,

excellent find The Cynical Economist.

I have seen this just last week on Arte and have asked myself if this kind of BLOCKBUSTER DOCUMENTARY will it ever make into the news ( MSM ) in the US…..

I think i know the answer….. ;-)