Financial News: 2009-12-18

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I will be out for most of the day, so posting may be light.  Tonight it will snow in DC and we may get a foot by Sunday. I hear it has snowed in London too. Exciting stuff.

Pain in Spain (not mostly on the plain)

  • Utility Shutoffs Climb by 5% Despite Doubling of U.S. Aid – WSJ.com
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  • Agencies in a Brawl for Control Over Banks – WSJ.com
  • Pimco’s Gross Boosts Cash to Most Since Lehman Failed – Bloomberg.com (I see this as a sign they are getting ultra-defensive. Interesting that Gross thinks Treasuries are a now a loser because of increased inflation expectations.)
  • States Scramble to Close New Budget Gaps – WSJ.com (Page one of today’s WSJ)
  • FT.com – Deutsche Bank to ‘globalise’ bonus pain
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  • ECB Must End Moody’s ‘Bizarre’ Veto on Greek Debt, Goldman Says – Bloomberg.com
  • FT.com – German business confidence surges
  • London Luxury-Home Prices Climb Most Since May 2008 – Bloomberg.com
  • Jobless rate soars with 16pc of men now out of work – Independent.ie (emigration attenuating the pain in Ireland somewhat.)
  • Volatility of gold makes major producers best bet for smaller investors – Independent.ie
  • Greece hit by strikes as debt crisis grows | Business | guardian.co.uk
  • James Montier: Ten Lessons (Not?) Learnt
  • FT.com – UK rejects plans for OTC standardisation
  • Can Citigroup Flail Its Way to Solvency? — John Lounsbury

    Distraction of the Day: Police officer tasers handcuffed suspect (this video is from November)

    Although we don’t have the same quality audio here, it reminds me of the University of Florida student who was warned to stop resisiting arrest and then yelled out "Don’t tase me, bro" before he got tased. Is this the right approach?

    (videos embedded above)

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