Supreme Court allows Chrysler sale to Fiat Reuters
Speeding up brain networks might boost IQ New Scientist
ECB Official Warns on Europe’s Banks WSJ.com
Waving Goodbye to the TARP DealBook
Chart of the day: Household equity Felix Salmon (You can see the bubble-like rise and fall in equity. Pretty dramatic chart. You should notice the rise begins in 1997, demonstrating that the bubble began long before the recent past)
IMF tells Europe to come clean on bank losses Ambrose Evans-Pritchard (Translation: get your head out of the sand. Look at Germany with WestLB almost collapsing at the weekend, The Germans seem to think that because they had no bubble their financial system will be just fine. Not at all, weakness is all around in Europe: Germany, Denmark, Sweden, Spain, Ireland, the UK, Austria, Switzerland.)
German exports fall 29% in April BBC News
Joseph Stiglitz: Too Big to be Restructured Economist’s View
The hills are alive with the sound of Austrian bond auctions Tracy Alloway, FT Alphaville (It looks like nervousness over Eastern Europe is back and that’s bad for Austria, as they are the most exposed of Eurozone countries to lending in the CEE.)
Let Me Sleep On It: Creative Problem Solving Enhanced By REM Sleep Science Daily
More Firms Cut Pay to Save Jobs WSJ.com
Antidote du jour:
Yves here. Thank to Ed. A few additions:
Is this the end of real regulatory reform? The Deal
Obama rewards AT&T warrantless surveillance CEO Ed Whitacre with chairmanship of GM Corrente
Analysis: Asset managers on the march Gillian Tett and Aline van Duy, Financial Times (hat tip reader Don)
4 comments
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Pay cuts? At least you can double your salary by playing poker on the side… Skip down to number (3) and I'd like to add burger flipper to no (4). A bit of fluff….http://news.efinancialcareers.co.uk/newsandviews_item/newsItemId-19459?efc_eu=2949
The Wall Street Journal is putting flesh on a story that's been emerging for the past week or so, and was pretty obvious before that: The White House is giving up on any real institutional restructuring in its regulatory reform proposals. Instead, sources within the administration say the effort will focus on convincing Congress to tighten up the rules, and eliminate the gaps.
Yet more change nobody should have believed in.
The same goes for the Whitacre example. More corporatism, universal hatred for the law and the constitution among the power elite, and just basic cronyism.
Bush is dead, long live Bush!
Three thoughts on Whitacre:
-Don't be buying a GM vehicle with OnStar.
-His M&A experience may be helpful for selling GM to Ford.
-"I'm not computer illiterate, but I'm close."
re: Too Big to be Restructured
No plan B for the economy and nothing new on the horizon. Financial services (fees),new housing developments, automotive, define the politically connected along with the military/government complex producing little of real value other then greater debt.