In-depth analysis on Credit Writedowns Pro.
Unconscionable Math – Taunter Media
The math of denying health insurance retroactively
The scope — and dangers — of GE’s control of NBC and MSNBC – Glenn Greenwald – Salon.com
This is what happens when corporations control media
Turning on a Paradigm – Brad Setser: Follow the Money
The role ideology in economics and animal spirits in markets
The SEC Settlement: One Small BofA Fine, One Big Problem for Ken Lewis – Deal Journal – WSJ
Looking for Lewis to leave BofA
GM cuts hourly workforce by 6,000 – BBC News
65% took early retirement. 30% took buyouts.
More debate about the validity of economic data – Michael Pettis
More in-depth China analysis from Pettis, now also on validity of China’s stats.
Krawcheck Joins BofA Amid Talk of Succession – DealBook Blog – NYTimes.com
The famed former Bernstein analyst finds a new gig.
The China stock bubble is back – Tim Iacono
This bubble doesn’t necessarily mean economic disaster in China.
Australia’s property bubble – Felix Salmon
Bigger than the one in America. But it hasn’t burst. Canada’s was not as big but is another conspicuous bubble yet to fully burst.
Google CEO Eric Schmidt Resigns From Apple Board. Surprised?
In response to Apple’s anti-competitive behavior.
Whitney Tilson And High Frequency Trading v3 | zero hedge
Good balance of views on this topic.
Private Equity Said to Carry $400 Billion in Debt – DealBook Blog – NYTimes.com
Must be repaid over next five years
Retail sales fall back in Germany – BBC News
Consumption in Germany is weak
HSBC profit halves to $5 billion as bad debts jump | Reuters
More than half of bad debt came from America
Home owners ‘face five years of negative equity’ – Telegraph
Those who bought at the peak face 5 more years, one reason nationwide brought back the 125% mortgage.
Pound hits 10-month dollar high – BBC News
1.6850 is a huge upside move. Sterling is moving up against the Euro as well.
Jobless graduate sues her college
Only in America. Litigious society at work.
China’s Manufacturing Expands Amid Signs of Global Recovery – Bloomberg.com
Order growth driven by domestic demand.
How Children View And Treat Their Peers With Undesirable Characteristics
if a child feels that an undesirable characteristic is under some sort of personal control, they are less likely to respond favorably to someone who displays that characteristic
Rewarding Bad Actors – Paul Krugman
Provocative. I don’t agree 100%, but definitely worth a read.
Foreclosures and the continuing crisis – James Suriowiecki
Focus on banks has left homeowners out to dry.
A Canadian doctor diagnoses U.S. healthcare – Los Angeles Times
Since I am in Canada right now, I find this interesting. Hat tip Mark Thoma.
Dr. Doom Sees Double-Dip Recession Risk, in Remarks Down Under – Real Time Economics – WSJ
Underlying demand is weak.
Japanese wages in record plunge
Doesn’t make recovery easy.
Distraction of the Day: First Black supermodel dies at 61