Monday, September 6, 2010

Today's Best Reads

1--Christina Romer’s Farewell Address, Mark Thoma, CBS Moneywatch

2--Bank Profits Soar, Lending Falls As Banks Pay Next To Nothing For Funds, Shahien Nasiripour, Huffington Post

3--Record number in government anti-poverty programs, USA Today

4--Will we ever recover from the financial crisis?, Ezra Klein, Washington Post

5--The Inflation Cure, Paul Krugman, New York Times

6--Bernanke says stopping housing bubble was not an option, Jacob Gaffney, Housingwire Key Bernanke statement:

"As in the case of subprime mortgages, the perceived potential losses on leveraged loans in the late summer of 2007 were significant, although not large enough by themselves to threaten global financial stability," he said. "But they damaged the confidence of short-term investors and, consequently, the functioning of money markets and the broader financial system."

7--Lax Basel Rules to spur further bank consolidation, Naked Capitalism Key statement:

"tweaks in Basel III rules to allow dubious quality items like mortgage servicing rights as Tier I capital speak volumes. In addition, the various noises from policy makers makes clear that they aren’t willing to make banks raise capital level by much due to fears of the impact of lower loan availability on economic growth."

8--German military report: Peak oil could lead to collapse of democracy, Daniel Tencer, Raw Story

9--Effectiveness of the Stimulus: Washington Post Has Not Heard of the Congressional Budget Office, Dean Baker, CEPR

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