Haven’t done this in the past few days and this is coming in late at night. Swamped with work and the Comcast service was down for almost the entire afternoon. Lame.
Obama’s Nobel Headache, by Evan Thomas (Newsweek)
And that Nobel guy is Paul Krugman who has been very vocal criticizing the plans that have been laid out so far by the Obama administration. Here’s Krugman on spotlight.
America the Tarnished, by Paul Krugman (NYT)
From the ‘talked about’ (above) to the talking about, Krugman on his NYT column spoke of the need for America’s leadership at times like this… and the difficulty of having followers when the reputation of the country has been tarnished. References were made to Simon Johnson and… Larry Summers (not in a very good way).
Populist Democracy Decalres War on CEOs, by Bill Frezza (RCM)
It’s not just the CEO’s fault. Yes, it is also Washington’s. And they might be killing the “goose that laid the golden egg”.
Balancing Banks, by James Surowiecki (The New Yorker)
With the plans that have been laid out, there seems to be irony in what the government is trying to do. One, it is trying to partner with Wall Street with its PPIP announced by Geithner last week. On the other hand, the same guy intends to gain regulatory power, which might in fact affect the same people they intend to participate in the PPIP. Fair point.
Bank Watchdogs Snooze Before the Biggest Heists, by Caroline Baum (Bloomberg)
Baum argues that we had the structure in place to predict the failures but none of the institutions made better use of it. In trying to prevent the failures of banks that are too big to fail, she also asks, who are too big to fail anyway? And Geithner’s proposal didn’t really mention any plan on that. So…do we really need a regulator?
Uncle Sam’s Massive Hedge Fund, by Robert Samuelson (RCM)
Among other things, the writer points out that before Geithner’s plan could proceed he might yet face a huge backlash. From the Congress or the citizens given the risks of the plan and the huge leverage to be provided by the plan to investors.
Dylan Ratigan Has Plenty to Look Forward To, by Jon Friedman (MarketWatch)
A little follow-up on Ratigan’s departure through a friend of his.