News from around the web: 2009-08-03

  • Unconscionable Math – Taunter Media

    The math of denying health insurance retroactively

  • The scope — and dangers — of GE’s control of NBC and MSNBC – Glenn Greenwald –

    This is what happens when corporations control media

  • Turning on a Paradigm – Brad Setser: Follow the Money

    The role ideology in economics and animal spirits in markets

  • The SEC Settlement: One Small BofA Fine, One Big Problem for Ken Lewis – Deal Journal – WSJ

    Looking for Lewis to leave BofA

  • GM cuts hourly workforce by 6,000 – BBC News

    65% took early retirement. 30% took buyouts.

  • More debate about the validity of economic data – Michael Pettis

    More in-depth China analysis from Pettis, now also on validity of China’s stats.

  • Krawcheck Joins BofA Amid Talk of Succession – DealBook Blog –

    The famed former Bernstein analyst finds a new gig.

  • The China stock bubble is back – Tim Iacono

    This bubble doesn’t necessarily mean economic disaster in China.

  • Australia’s property bubble – Felix Salmon

    Bigger than the one in America. But it hasn’t burst. Canada’s was not as big but is another conspicuous bubble yet to fully burst.

  • Google CEO Eric Schmidt Resigns From Apple Board. Surprised?

    In response to Apple’s anti-competitive behavior.

  • Whitney Tilson And High Frequency Trading v3 | zero hedge

    Good balance of views on this topic.

  • Private Equity Said to Carry $400 Billion in Debt – DealBook Blog –

    Must be repaid over next five years

  • Retail sales fall back in Germany – BBC News

    Consumption in Germany is weak

  • HSBC profit halves to $5 billion as bad debts jump | Reuters

    More than half of bad debt came from America

  • Home owners ‘face five years of negative equity’ – Telegraph

    Those who bought at the peak face 5 more years, one reason nationwide brought back the 125% mortgage.

  • Pound hits 10-month dollar high – BBC News

    1.6850 is a huge upside move. Sterling is moving up against the Euro as well.

  • Jobless graduate sues her college

    Only in America. Litigious society at work.

  • China’s Manufacturing Expands Amid Signs of Global Recovery –

    Order growth driven by domestic demand.

  • How Children View And Treat Their Peers With Undesirable Characteristics

    if a child feels that an undesirable characteristic is under some sort of personal control, they are less likely to respond favorably to someone who displays that characteristic

  • Rewarding Bad Actors – Paul Krugman

    Provocative. I don’t agree 100%, but definitely worth a read.

  • Foreclosures and the continuing crisis – James Suriowiecki

    Focus on banks has left homeowners out to dry.

  • A Canadian doctor diagnoses U.S. healthcare – Los Angeles Times

    Since I am in Canada right now, I find this interesting. Hat tip Mark Thoma.

  • Dr. Doom Sees Double-Dip Recession Risk, in Remarks Down Under – Real Time Economics – WSJ

    Underlying demand is weak.

  • Japanese wages in record plunge

    Doesn’t make recovery easy.


    Distraction of the Day: First Black supermodel dies at 61

  • About 

    Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator on BBC World News, CNBC Television, Business News Network, CBC, Fox Television and RT Television. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.

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