News from around the web: 2009-08-06

  • Calculated Risk: Google Maps Shows Foreclosure Status

    You can get data on just about anything these days. Amazing maps. Almost scary.

  • Fannie Mae seeks $US10.7b in aid after loss

    Here’s a thought: if Citi were in government hands and taking down writedowns like Fannie, what do you think the scale of losses would be?

  • Confidence games and Ponzi schemes – Tim Iacono

    Ideas on reflation of the bubble economy.

  • Don’t Dismiss Taibbi : CJR

    A defense of Matt Taibbi. The mainstream media is losing credibility in this crisis.

  • German car scrap scheme ‘abused’ – BBC News

    This doesn’t bode well for the cash for clunkers scheme.

  • Did the SEC Burn BofA Shareholders? – Deal Journal – WSJ

    Yes. Shareholders should not take this fine. The executives who misled shareholders should.

  • White House Affirms Deal on Drug Cost –

    Here’s Obama’s secret deal with the drug lobby. Change you can believe in?

  • Why CNBC’s Ratings Are Down – Barry Ritholtz

    Great post detailing how CNBC benefits/loses due to changes in the market and not due to specific controversies like the Jon Stewart-Jim Cramer duel.

  • Do Chicago’s Suburbs Hold The Key To Understanding West Nile Virus?

    In SW Chicago, one neighborhood is getting much more than another.

  • Men Who Do The Housework Are More Likely To Get The Girl

    No comment.

  • You Do Not Have Health Insurance – James Kwak

    I have said before, the purpose of health care reform is NOT cost containment. The primary purpose is to make sure everyone has insurance – preventive basic insurance and insurance against catastrophic loss.

  • Bank of Japan may forecast 3 years of deflation

    Is this what awaits the world economy?

  • Despite Bailouts, Business as Usual at Goldman – DealBook Blog –

    Blankfein admits privately Goldman was threatened.

  • A.I.G. Breakup Said to Net Wall Street $1 Billion – DealBook Blog –

    AIG benefits the street yet again.

  • Bank of England surprises markets with move to increase ‘printing money’ plan – Telegraph

    But does QE have any impact? Or are they targeting Sterling?

  • Costco July same-store sales fall 7 percent | Reuters

    Another proxy for retail sales shows decline.

  • Nagayasu: Lessons from Japan on Banking Regulation Reform –

    Today’s regulatory dialogue in the United States and Europe has implicitly assumed that large financial institutions are “too big to fail.” This assumption may encourage banks to take excessive risks, resulting in potentially more bank bailouts. It has also skewed the regulatory debate toward a focus on requiring banks to hold higher levels of “going concern capital,” such as common equity.

    Distraction of the Day: John Hughes dead at 59.  It seems all of my favorite pop icons are dying.

  • 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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