News from around the web: 2009-08-03

  • 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 –

    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 –

    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 –

    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 –

    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

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