- After Pilot Dies, Jet Lands Safely in Newark – NY Times
- EU sets basis for finance reform – BBC News
"EU ministers have agreed in principle on a framework for enhanced oversight of the financial sector, with the UK winning key concessions to the plans."
- When it comes to global banks, size matters – Gillian Tett
The Swiss and the British central bankers are openly discussing the need to limit the size of banks. Their large banks are much too big relative to their domestic economy.
- Hanging tough with Keynes – Paul Krugman
- Conor Clarke: An Interview With Paul Samuelson, Part Two
Second part in a very good interview
- The lessons of 1937 – Christina Romer
Another economist, this time within the administration, warning about deficit hawks.
- Too Big To Fail, Politically – Simon Johnson
Can I go home and cry now? Seriously though, every true reform-minded economist hates the Obama white paper. Bankers seems pretty happy, though.
- Hoover or Roosevelt? Obama gets comparison to past presidents – New Deal 2.0
- Volcker: Sure, don’t regulate the hedge funds much. But don’t let them mooch off the safety net, either. – Robert Johnson
This article argues that banking should be boring, regulated and have a government safety umbrella. Other risky activities should be done at hedge funds and other institutions that do not have any protections under that umbrella.
- Roubini: New Regulations "Go in the Right Direction," But Not Far Enough – Tech Ticker
Roubini is so diplomatic when it comes to Summers and Geithner. Check out the associated video.
This is the best story: "Authorities said they found 249 certificates worth $500 million each and 10 bonds worth more than $1 billion each, as well as other alleged original banking statements. Stephen Meyerhardt, a spokesman for Treasury’s Bureau of Public Debt, said Thursday the paper is phony. "Based on the photos we’ve seen on the Web, they’re not even close to looking like a Treasury security," he said"
- Equity Compensation for Long-Term Results – WSJ.com
- Homosexual behaviour widespread in animals according to new study – Telegraph
"Homosexual behaviour is a nearly universal phenomenon in the animal kingdom, according to a new study."
- Martin Wolf Speak, You Listen – Columbia Journalism Review
This is a derivative of the Great Depression II meme which Martin Wolf picked up on.
- Toxic Chemicals – New Toxic Chemicals to Avoid – thedailygreen.com
"California has identified 30 chemicals that may cause cancer, reproductive problems and other serious health concerns."
- Stroke Survivors Report Loss Of Sexual Desire, Blurred Gender Roles, Anger And Fatigue – Science Daily
"Suffering a stroke can have a profound effect on relationships and lead to significant changes in how couples relate to each other on a physical, psychological, social and emotional level, according a study in the June issue of the Journal of Clinical Nursing."
- Antibiotics-resistant Gulls Worry Scientists – Science Daily
Human beings are next. Half of gulls in Southern France are now resistant to antibiotics in some way.
Distraction of the day: The Taking of Pelham 123
A friend of mine told me I would like this one and that it is a good remake. John Travolta makes a mean bad guy. Very much in keeping with the times on Wall Street I was told.