Monthly Archives: August 2010

August 31, 2010

• Links 8/31/10
  by Yves Smith 4:55 am

• William Black: Theoclassical Law and Economics Makes the Law an Ass
  by Yves Smith 4:29 am

• What to Make of Banks’ Hesitance to Lend to Environmentally Dubious Projects
  by Yves Smith 4:09 am

• NYT Story on Wall Street’s Fallout with Obama Misses the Dead Bodies
  by Yves Smith 3:34 am

• Why Are NACA’s Innovative Mortgage Modification Marathons Below the Radar?
  by Yves Smith 2:18 am

August 30, 2010

• Links 8/30/10
  by Yves Smith 4:53 am

• Guest Post: Modern Monetary Theory — A Primer on the Operational Realities of the Monetary System
  by Yves Smith 3:45 am

• ProPublica Asserts “First” on CDO Manager Shenanigans When Bloomberg, Mason/Rosner, and This Blog Have Prior Reports
  by Yves Smith 3:40 am

• Why Germany’s Rebound Is Not Such Good News
  by Yves Smith 3:29 am

August 29, 2010

• Links 8/29/10
  by Yves Smith 3:09 am

• Japan’s Experience Suggests Quantitative Easing Helps Financial Institutions, Not Real Economy
  by Yves Smith 3:06 am

• Why Basel III is No Magic Bullet
  by Yves Smith 2:05 am

August 28, 2010

• Links 8/28/10
  by Yves Smith 2:23 am

• What is the Proper Libertarian Response to Concentrated Corporate Power?
  by Yves Smith 1:51 am

• Summer Rerun: Rating Agencies Created Incentives to Issue Paper More Profitable for Them to Rate
  by Yves Smith 1:37 am

August 27, 2010

• Links 8/27/10
  by Yves Smith 5:38 am

• The Continued Stealth Takeover of the Courts
  by Yves Smith 5:29 am

• More Debate on QE
  by Yves Smith 5:20 am

August 26, 2010

• Links 8/26/10
  by Yves Smith 7:15 am

• Fears of Regime Change in New York
  by Yves Smith 6:55 am

• Regulators (and New York Times) Discover Bank Use of “Customer” Trades to Place Bets
  by Yves Smith 5:45 am

• Satyajit Das: Cross Dressing in Political Economy
  by Yves Smith 5:09 am

• Corps’ Hissy Fit Works: SEC Move for Corporate Democracy Weakened (Updated and Amplified))
  by Yves Smith 4:59 am

August 25, 2010

• Guest Post: Gulf Chemist Says Mercenaries Hired By BP Are Now Applying Toxic Dispersant – at Night and In an Uncontrolled Manner – Which BP Says It No Longer Uses
  by George Washington 3:42 pm

• Links 8/25/10
  by Yves Smith 5:27 am

• Mirabile Dictu: Wall Street Journal Sees Parallel Between Commercial and Individual “Strategic Default”” When Solvent Commercial Property Owners Quit Paying?
  by Yves Smith 5:06 am

• Earth to Bill Gross: We Chickens Know You Are the Fox Minding the Henhouse
  by Yves Smith 4:47 am

• Corporate Hissy Fit Over New Proxy Rules Reveals “Shareholder Rule” to be a Canard
  by Yves Smith 2:58 am

August 24, 2010

• Guest Post: Existing Home Sales Horrendous – So, Why Are Housing Stocks Moving Higher?
  by Yves Smith 4:57 pm

• Links 8/24/10
  by Yves Smith 6:13 am

• Japan: All Talk, No Action on Levitating Yen
  by Yves Smith 5:49 am

• Banks Enabling Fraud Against Retail Customers
  by Yves Smith 3:55 am

• Summer Rerun: CDOs: The Ticking Time Bomb
  by Yves Smith 3:40 am

August 23, 2010

• Guest Post: Derivatives Clearing – At the End of the Beginning
  by Yves Smith 3:27 pm

• Links 8/23/10
  by Yves Smith 9:26 am

• Credit Card Companies Jack Up Rates Despite Flagging Economy, Super Low Funding Costs
  by Yves Smith 3:18 am

• MIchael Pettis on the High Odds of Trade War
  by Yves Smith 1:34 am

August 22, 2010

• Links 8/22/10
  by Yves Smith 4:47 am

• Does Income Inequality Help Cause Financial Crises?
  by Yves Smith 1:26 am

• Summer Rerun: Martin Wolf: Banks Hold Central Bankers Hostage
  by Yves Smith 12:40 am

August 21, 2010

• Guest Post: FDA Not Testing Gulf Seafood for Mercury, Arsenic or Other Heavy Metals Because “We Do Not Expect to See an Increase Based on this Spill”
  by George Washington 5:46 pm

• Links 8/21/10
  by Yves Smith 5:12 am

• The Perils of Changes of Global Leadership
  by Yves Smith 3:55 am

• Guest Post: Are We Setting The Wrong Economic Baseline for Recovery?
  by Yves Smith 12:31 am

• Reminder: Manhattan Meet Up Monday August 23
  by Yves Smith 12:30 am

August 20, 2010

• Links 8/20/10
  by Yves Smith 5:50 am

• Could Millions of Homes Be Foreclosure Proof?
  by Yves Smith 4:32 am

• Guest Post: On Broken Trades and Bailouts
  by Rajiv Sethi 1:42 am

• Why Treasury Bonds Do Not Fund Our Federal Deficit
  by Yves Smith 1:18 am

• Guest Post: Top Oil Expert Says Geology is “Fractured”, Relief Wells May Fail and Oil May Leak for Years … BP is Using a “Cloak of Silence”, and Refusing to Share Even Basic Data with the Government
  by George Washington 12:22 am

• Marshall Auerback and David Franklin Debate Whether Stimulus Works on BNN
  by Yves Smith 12:16 am

August 19, 2010

• Links 8/19/10
  by Yves Smith 7:24 am

• Some Econobloggers Visit the Treasury
  by Yves Smith 6:51 am

• Questioning the “The Authorities Did a Great Job in the Crisis” Meme
  by Yves Smith 4:39 am

• Amar Bhide on the Stalinization of Finance
  by Yves Smith 3:48 am

August 18, 2010

• Links 8/18/10
  by Yves Smith 5:39 am

• So Much for Workers in India Being Cheaper
  by Yves Smith 4:13 am

• Boston Fed’s New Excuse for Missing the Housing Bubble: NoneOfUscouddanode
  by Yves Smith 3:50 am

• Are Bank Stocks Such a Good Buy?
  by Yves Smith 2:03 am

August 17, 2010

• Auerback: News Flash– China Reduces US Treasury Holdings, World Does Not Come To an End
  by Yves Smith 4:14 pm

• Links 8/17/10
  by Yves Smith 4:03 am

• Auerback: Which Party Poses the Real Risk to Social Security’s Future?
  by Yves Smith 12:33 am

• Summer Rerun: Extreme Measures II: Gillian Tett at the Financial Times
  by Yves Smith 12:12 am

August 16, 2010

• Links 8/16/10
  by Yves Smith 1:57 am

• More Signs of (Probably Futile) Labor Pushback in China
  by Yves Smith 12:37 am

• Interview with Andrew Patterson in New Zealand
  by Yves Smith 12:14 am

• Summer Rerun: How Bad Might It Get?
  by Yves Smith 12:10 am

August 15, 2010

• Satyajit Das: Grecian Derivative
  by Yves Smith 6:39 pm

• Links 8/15/10
  by Yves Smith 3:12 am

• Ports Afraid Weakening Economy Means Santa Will Leave Coal in Their Stocking
  by Yves Smith 1:50 am

• Ouster of HP’s Hurd: A Shot Across the Bow of Overpaid Cost Cutters?
  by Yves Smith 1:25 am

August 14, 2010

• Links 8/14/10
  by Yves Smith 5:08 am

• Mistaking Noise for Signal
  by Yves Smith 4:40 am

• Summer Rerun: Do-It-Yourself Dubious Accounting
  by Yves Smith 4:36 am

August 13, 2010

• Representatives Convey and Kaptur Call on Geithner, Fannie, FHFA to Stop Efforts to Pursue Strategic Defaulters
  by Yves Smith 4:19 pm

• Links 8/13/10
  by Yves Smith 6:29 am

• Hidden Income in China Boosts Income of Top 10%, Fueling Speculation, Social Strains
  by Yves Smith 6:26 am

• Alford: What Kind of Science Should Economics Be When It Grows Up?
  by Yves Smith 4:37 am

• How (Mis)Use of Client Assets Pumped Up Shadow Banking System
  by Yves Smith 4:07 am

August 12, 2010

• Guest Post: BP Is Hiding Dead Animals to Avoid Fine of $50,000 Per Dead Animal (and the Bad Publicity)
  by George Washington 10:59 am

• Links 8/12/10
  by Yves Smith 6:34 am

• The Fed’s Fallacious “QE Lite” Logic
  by Yves Smith 5:09 am

• Steve Keen: Bank Profits a sign of economic sickness, not health
  by Yves Smith 3:35 am

• Bank Friendly, Borrower Bashing New York Times Article on Home Equity Defaults
  by Yves Smith 2:55 am

• Summer Rerun: On What the Fed Hath Wrought (So Far)
  by Yves Smith 2:10 am

August 11, 2010

• More Extend and Pretend: HUD Offers $1 Billion of Subprime Teaser Loans
  by Yves Smith 4:42 pm

• Grayson Calls for White House Spokesman Gibbs to be Fired (LOL Alert)
  by Yves Smith 4:20 pm

• Links 8/11/10
  by Yves Smith 6:06 am

• Frustrated White House Slams “Professional Left”
  by Yves Smith 5:15 am

• Pimco’s Crescenzi Gets Award for Artless Candor
  by Yves Smith 3:40 am

• Price is Not Value, and Other Reasons Metrics Mislead
  by Yves Smith 2:48 am

• Manhattan Meet Up: Monday August 23
  by Yves Smith 12:28 am

August 10, 2010

• Fed Signals Continued Willingness to Throw Money at Flagging Economy
  by Yves Smith 6:11 pm

• Guest Post: Strip Mining the U.S. Economy
  by Yves Smith 3:27 pm

• Links 8/10/10
  by Yves Smith 7:12 am

• NYT Muffs Merrill/Magnetar Piece (Corrected and Updated)
  by Yves Smith 6:00 am

• Widening Chinese Trade Surplus Increases Pressure to Intervene
  by Yves Smith 5:58 am

• Are Those Horrible, Sometimes Unionized, State and Local Employees Overpaid? Apparently Not
  by Yves Smith 5:57 am

• Guest Post: European Banks – Distinguishing the Walking Wounded from the Living Dead
  by Yves Smith 5:03 am

• Guest Post: The Government is Dealing with the Oil Spill Like the Soviets Dealt with Chernobyl
  by George Washington 1:50 am

August 9, 2010

• Guest Post: Why Clearinghouses Are a Maginot Line Against Systemic Risk
  by Yves Smith 6:15 pm

• Links 8/9/10
  by Yves Smith 5:12 am

• Why is the Journal Mystified that Some Employers Are Having Trouble Finding Workers?
  by Yves Smith 4:04 am

• “Technically Incompetent” NY Fed Examiner of Biggest Banks Pre Crisis Promoted for Blowing Up the Economy
  by Yves Smith 1:44 am

August 8, 2010

• Links 8/8/10
  by Yves Smith 4:09 am

• Should We Be Leery of the Generosity of the Uber-Rich?
  by Yves Smith 4:06 am

• We Speak on CSPAN’s Washington Journal About Big Corporations and the Economy
  by Yves Smith 2:25 am

August 7, 2010

• Links 8/7/10
  by Yves Smith 3:12 am

• Did Gretchen Morgenson Get Spun on Denver Public School Financing Story?
  by Yves Smith 2:58 am

August 6, 2010

• Goldman Tells FCIC 25% to 35% of Its Revenues Come From Derivatives
  by Yves Smith 10:35 pm

• Ugly Non-Farm Payrolls Revisions
  by Yves Smith 4:23 pm

• Links 8/6/10
  by Yves Smith 6:11 am

• On Investor Distrust in the Markets
  by Yves Smith 5:09 am

• Summer Rerun: Has the Credit Contraction Finally Begun?
  by Yves Smith 5:01 am

• Stehle: The government treats the average citizen very differently than it does BP
  by Yves Smith 3:25 am

• More Debunking of the “Freddie and Fannie Caused the Crisis” Meme
  by Yves Smith 2:33 am

August 5, 2010

• Medicare Trustees: Fund Now Viable till 2029
  by Yves Smith 3:24 pm

• Links 8/5/10
  by Yves Smith 6:24 am

• Fannie and Freddie Continue to Rely on Foreclosure Mills Despite Evidence of Fraud
  by Yves Smith 6:08 am

• Auerback: The Real Reason Banks Aren’t Lending
  by Yves Smith 3:46 am

• Summer Rerun: “Carry trade threatens a deflationary global collapse”
  by Yves Smith 3:42 am

August 4, 2010

• Taleb Calls Out Alan Blinder for Questionable Actions
  by Yves Smith 5:23 pm

• Links 8/4/10
  by Yves Smith 7:26 am

• Andy Xie on China’s Empty Apartments
  by Yves Smith 6:23 am

• We Speak on BNN About Structural Unemployment, Elizabeth Warren
  by Yves Smith 5:37 am

• Deflation Alert: Employers Cutting Pay, Consumer Growth Index Points to Downturn
  by Yves Smith 1:03 am

• Small Business Sentiment Hits New Low
  by Yves Smith 12:08 am

August 3, 2010

• Not All Banksters Fat and Happy: JP Morgan Commodities Unit Shows Layoffs, Losses
  by Yves Smith 1:11 pm

• Links 8/3/10
  by Yves Smith 4:39 am

• Pimco’s Clarida and El-Erian Describe Risks of a Fatter-Tailed World
  by Yves Smith 2:44 am

• More Incoherent Remarks From China on Its Dollar Holdings
  by Yves Smith 1:18 am

• “Do the Rich Even Need the Rest of America Anymore?”
  by Yves Smith 12:31 am

August 2, 2010

• New Data Suggests Gulf Oil Spill at Second or Third Biggest Ever
  by Yves Smith 8:12 pm

• Links 8/2/10
  by Yves Smith 6:04 am

• New Push to Prop Up Housing Market via Mass Refis?
  by Yves Smith 4:44 am

• Getting Ugly on the Commercial Real Estate Front
  by Yves Smith 2:32 am

• AT&T, Verizon to Enter Payments Business, Compete with MasterCard and Visa
  by Yves Smith 12:51 am

August 1, 2010

• Links 8/1/10
  by Yves Smith 4:08 am

• Knives Out for Elizabeth Warren
  by Yves Smith 4:04 am

• Strategic Default Awareness Check
  by Yves Smith 12:20 am

• Debunking Bush Tax Cut Myths
  by Yves Smith 12:16 am