Charles Lane, Slate
New York Times
Associated Press (hat tip Glenn Stehle). You cannot make this stuff up:
Even the people who make their living off the seafood-rich waters of Louisiana’s St. Bernard Parish have a hard time swallowing the government’s assurances that fish harvested in the shallow, muddy waters just offshore must be safe to eat because they don’t smell too bad.
Institutional Risk Analytics
Paul Krugman, New York Times
Wall Street Journal
Financial Times. Please, does anyone think the 2007-2009 growth revisions downward were “mysteries”? We’ve seen this movie before. In 2002, GDP estimates were successively cut from reasonable-looking to abjectly weak as revisions proceeded.
Wall Street Journal. Although we’ve been fierce critics of Goldman on many front, our analysis of AIG’s CDOs has indicated that Goldman’s marks of its deals pre the insurer’s failure were not unduly aggressive; rather, the insurer and the dealer community was in denial about how weak the market was for them.
Lucy Kellaway, Financial Times
Ambrose Evans-Pritchard, Telegraph. If the US responds (as it really ought to), this could trigger a full blown trade row. Also illustrates the abject stupidity of US industrial policy by neglect (as in we do have industrial policy, just look at which industries get big subsidies, but dream if they are part of a cohesive economic strategy)
Antidote du jour: