Links: 2009-07-13

"China’s central bank governor has gone so far as to suggest that the dollar’s role as a reserve currency helped to bring about the current financial crisis by forcing countries with growing reserves to channel them into the US markets, where they provided the finance for the bubble, with ultimately catastrophic results."

Obama knows full well they got it wrong. Why not admit this?

No. And Jeremy Siegel is looking discredited

Paul Craig Roberts, a conservative former Treasury official, gives his opinion on bailouts, government and China.

is this Obama’s Lehman Brothers?

Is this old HBOS or old Lloyds? My bet is HBOS

Quotes from Larry Summers circa 1990

A very important post. California may be creating a currency.

No. But are recessions? In my view, the are endemic to capitalism.

Good post on the finance blogosphere network

The Central Intelligence Agency withheld information about a secret counterterrorism program from Congress for eight years on direct orders from former Vice President Dick Cheney, the agency’s director, Leon E. Panetta, has told the Senate and House intelligence committees, two people with direct knowledge of the matter said Saturday.