Night time reading: 2009-08-05

  • Apple’s new low: censoring a dictionary

    The anti-Apple backlash is on.

  • Ten mysteries of you – New Scientist

    Very good series on the science behind human eccentricities.

  • Xabi Alonso completes move to Real Madrid

    If Madrid fail miserably, it will be just desserts

  • Latest Google Chrome Beta Is “30 Percent Faster,” Supports HTML5, And Is Prettier Too

    I will give it a test run

  • China suffers largest suspected bank fraud – FT

    Not Madoff size fraud. HSBC involved.

  • Goldman Faces Inquiries on Pay and Derivatives – DealBook Blog –

    In its Form 10-Q filed early Wednesday, Goldman said that some of its affiliates “have received inquiries from various governmental agencies and self-regulatory organizations regarding the firm’s compensation processes

  • Citi plans to sell 20 consumer finance businesses: report | Reuters

    Citi needs to sell assets unlike no other big American bank

  • Ben Bernanke’s failure at the Fed – Dean Baker

    Baker suggests Bernanke does not deserve re-appointment

  • The debt-inflation myth, debunked by UBS – FT Alphaville

    Can one inflate away debt deflation problems?

  • Buffett’s Betrayal – Rolfe Winkler

    Yes, like PIMCO, Buffett has invested to gain from government largesse. But most of his financial investments are well-run institutions that pre-date the crisis. They received government funding because of systemic risk. M&T and US Bancorp are perfect examples of this. As for the stress tests, they were a sham, used to induce investors to pony up more capital. I see nothing wrong in criticizing them. So, I like this provocative analysis but must quibble on several points and I think it falsely paints all TARP recipients with the same brush.

  • When Does a Depression or a Recession End? – Richard A. Posner

    Exactly my point about a technical recovery i.e. recession ends from a lower base.

  • More than 12,000 Northern Rock ‘125pc mortgage’ borrowers in arrears – Telegraph

    Again, Northern Rock was a reckless lender

  • Lloyds slumps to loss as bad debts soar to £13.4bn – Telegraph

    £4bn loss in the first six months of the year

  • Automakers Give Rave Reviews to ‘Cash for Clunkers’ – TIME

    July auto sales up from program


    Distraction of the Day: Brazilians urged to conserve water in a strange way.

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