Data Center Knowledge
Wall Street Journal. On the one hand, banks lent a lot of money to people who shouldn’t have gotten as generous terms as they did, so the retrenchment makes sense. But the whole pitch for the bailout was to get lending going again (a premise we’ve questioned). It’s becoming increasingly apparent that the rescues are really about protecting bondholders.
William Cohan, New York Times. I’m a day late to this, but it is still worth reading.
Paul Krugman. The banks as Iraq.
Financial Times. Consistent with Tyler Durden’s thesis. Also a very surprising statement.
Tyler Durden. I’m not big on market calls, but the detail about the recent whackage is informative.
Economic Policy Journal. Short but important.
Steel Guru (hat tip reader Michael)
Mother Jones. Unfortunately, it seems to be only venues like Mother Jones that are picking up on the issues raised by former bank regulator William Black.
Independent. Another great use of your tax dollars.
Antidote du jour: