News from around the web: 2009-08-02

  • Kinder, Gentler Banks? It Wasn’t in the Deal –

    Good effort on what banks owe taxpayers. But, still not quite there. Hat tip Yves Smith.

  • Financial Armageddon: Jenga Time in CRE

    CRE is the next big writedown time bomb.

  • Economist’s View: Plain Vanilla Mortgages

    A must-read piece on mortgage regulation. You should note that the article just below this is the self-regulation version that is likely to gain sway if regulation by government doesn’t happen.

  • A Mortgage Watchdog Group Is Born –

    Is the Fair Mortgage Collaborative, a consortium of lenders, brokers and mortgage technology providers, really a watchdog? It sounds like self-regulation to me.

  • US, Swiss strike deal on bank secrecy, tax evasion

    Is this the end of it?

  • China’s stimulus plan buoys factory output

    PMI is up in China

  • naked capitalism: Michael Pettis: Falling US Consumption to Lower Chinese Growth to 5-7%

    Not Armageddon, just slower growth.

  • Frank Rich – Small Beer, Big Hangover –

    Provocative insights over the Crowley-Gates dust-up

  • FCC Takes On Apple And AT&T Over Google Voice Rejection

    Apple is acting in a clearly anti-competitive manner. This type of thing must be stopped.

  • Cities worst hit by foreclosures – CNN Money

    "Cities in just four states — California, Florida, Arizona and Nevada — captured 29 of the top 30 places with the highest foreclosure rates."

  • House prices are still falling – Telegraph

    David Blanchflower doesn’t believe seasonal adjustments.

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