- Moody’s bank downgrades, pain in Spain edition – FT Alphaville
25 banks get downgrades. Santander gets negative watch.
- Lincoln National to Take Federal Bailout Funds – DealBook
Is this getting any press? They are not a bank.
- Marijuana Damages DNA And May Cause Cancer, New Test Reveals – Science Daily
Give up the pipe, mate.
- FT.com – Banks face fresh $283bn writedowns
" Eurozone banks will probably need to write down another $283bn this year and next on bad loans and securities, the European Central Bank said on Monday."
- Extended Stay Hotels Seeks Chapter 11 – WSJ.com
I tweeted this when the news came out. Here is the link to the story.
- Hotel Creditors May Have an Extended Stay – WSJ.com
- The Good Soldier: Hillary Clinton As Secretary of State — Daily Intel — New York Magazine
Good analysis of Hillary Clinton’s excellent performance to date.
- Test awaits Obama this week on financial reforms – Reuters
"The Obama administration on Wednesday will unveil its long-awaited plan to tighten U.S. financial regulation, marking a test of its resolve to seize political opportunity and face down powerful interests."
- You Don’t Get a Vote! – James Kwak
"All I can think is that Obama basically doesn’t think that financial regulation is that important. Or he thinks that the existing system is close enough. Or he figured that Congress would have the final word, anyway."
- Home Builders See a Bottom – Housing Wire
"Home sales remained weak in May even as prices declined, according to a survey of more than 300 home building executives conducted by John Burns Real Estate Consulting. The survey represented 2,221 new home communities in 95 metro areas. The consulting firm says the month’s commentary marks the most optimistic month in the survey’s year-long history, as many builders believe the market is approaching bottom."
- Is This Bull Cyclical or Secular? – WSJ.com
Of course, I think it is a cyclical bull aka bear market rally.
Distraction of the Day (hat tip Wag the Dog):
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