We’re introducing a new feature on UF: a link to some weekend reads. Here is the first edition complied by Sam Forgione.
From The Guardian:
Andrew Balls, head of European investment for PIMCO from its London office, shares similar views on Europe and regulation with his brother, Ed Balls, of the British Labour Party. Brotherly love even extended to one of PIMCO’s major investment decisions: when Bill Gross decided to sell UK government debt in 2010, and Andrew Balls allegedly disagreed with the move, apparently backing his brother’s political status.
From The New Deal 2.0:
An eye for an eye, a rebuttal for a rebuttal. Bruce Judson argues that Jamie Dimon’s vengeful jab at the media for making less money than JP Morgan is unfair. For one, banks are government-backed while media companies aren’t.
Investors in credit default swaps may not get their payouts as readily as they thought, given the ways that European policymakers can circumvent the exchange and the uncertain value of the swaps after a Greek debt auction: