Usually when the list looks like this you are at an airport.
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David Visits Manhattan
Fun.
Very strange things were happening with time. -
Venezuela’s El Sistema
Science and religion block each other and philosophy has become rhetoric.
Music remains as a path to sophistication. -
Cathy Horyn's Runway Report
Wow!
I have no idea how to market This to the flannel shirt and jeans group.
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TimesPeople recommended a video:Mar 8, 2012Drawing on the Past
It is a learned perception.
One cannot really see without getting the body involved.
Much of what we see is memory of the transformation in a change of viewing angle.
Links 3/9/12
Thousands of spiders blanket Australian farm after escaping flood Yahoo (hat tip Lambert). You need to check out the pictures.
Honey bees study finds that insects have personality too PhysOrg (hat tip reader Robert M). Now I’ll have to feel guilty about killing insects?
The 8-hour Sleep Myth Alternet
Renowned Wine Dealer Accused of Trying to Sell Counterfeits New York Times. I am really dense. I can’t fathom why someone who is well off and well respected would do this sort of thing.
Carolina woman accused in beheading plot McClatchy (hat tip Buzz Potamkin)
Greece to Invoke New Powers to Boost Participation in Debt Swap Wall Street Journal and Greek Debt Swap Clears 95% Level as Euro Chiefs Ready for Call Bloomberg. The deed is done, but this still won’t carry Greece very far given that austerity is producing an economic implosion.
China Car Sales Have Worst Start Since 2005 as Economy Slows Bloomberg. But inflation has slowed, so Mr. Market assumes the Chinese officialdom will engage in more stimulus.
Measuring China’s real estate bubble MacroBusiness
NC (more specifically, our man in Dublin, Philip Pilkington) scoops the Financial Times! FT front page story: QE blamed for surge in pensions shortfall. NC story February 14: Philip Pilkington: Pension Provider to British Government – “QE Actually Does Kill Demand!”
Chart of the Day: Monetary Transmission Mechanisms Ed Harrison
Deutsche Bank tapped ECB for up to €10bn Financial Times
FBI Director: I Have to Check to See If Obama Has the Right to Assassinate Americans On U.S. Soil George Washington
Obama lionized for tough decisions in campaign film Yahoo. “Tough” and “Obama” do not belong in the same sentence. Lambert deems this to be a “mockumentary”; I’m hoping someone can do better and with minimal editing turn it into a parody.
GOP Loses Big Voter Suppression Case In Federal Court Alternet (hat tip furzy mouse)
NAACP to challenge state voting laws before U.N. panel in Geneva McClatchy
MF Global Customers Call Trustee’s Demands ‘Unwarranted’ Bloomberg (hat tip reader Francois T)
MF Global Still Set to Pay Executive Bonuses Wall Street Journal
Obama unveils new foreclosure measures to resuscitate housing market Washington Post (hat tip Lambert). Wow, serious blow job. I need to debunk this, hopefully I’ll get to it over the weekend. Still feeling punky.
Banks foreclosing on US churches in record numbers Reuters
Wells Fargo Ends Free Checking in 6 More States Bloomberg (hat tip Lambert)
Lowering our expectations for foreclosure settlement Chicago Tribune (hat tip Lambert). This is one of the best one stop treatments on the failings of the deal, and it still misses the second lien treatment as backdoor bailout and how farcically bad the servicer consent orders are.
The Pernicious “Foreclosures are Good” Meme Dave Dayen, Firedoglake (hat tip reader Carol B)
U.S. Regulators ‘Paralyzed’ by Cost-Benefit Suits, Chilton Says Bloomberg. Um, I gather the banks manage to exclude the cost of blowing up the global economy.
An Industry’s Failure to Verify, After Trusting Floyd Norris, New York Times. I’ve said that MBIA is the only company where I would routinely feel the need to wash my hands after reading its communiques to investors.
Former New Jersey governor goes undercover as homeless man Yahoo (hat tip Lambert)
Antidote du jour:
And a bonus of sorts, hat tip reader Swedish Lex. First, I was appalled by the premise, and am not sure the movie can carry it off, but I have to say I wound up enjoying the trailer. Second, I guarantee if this movie gets any circulation in the US, it will be credited with inspiring a nutjob (not that said nutjob would not have eventually found some other excuse for what is now called “going postal”):
Honey bees study finds that insects have personality too PhysOrg (hat tip reader Robert M). Now I’ll have to feel guilty about killing insects?
The 8-hour Sleep Myth Alternet
Renowned Wine Dealer Accused of Trying to Sell Counterfeits New York Times. I am really dense. I can’t fathom why someone who is well off and well respected would do this sort of thing.
Carolina woman accused in beheading plot McClatchy (hat tip Buzz Potamkin)
Greece to Invoke New Powers to Boost Participation in Debt Swap Wall Street Journal and Greek Debt Swap Clears 95% Level as Euro Chiefs Ready for Call Bloomberg. The deed is done, but this still won’t carry Greece very far given that austerity is producing an economic implosion.
China Car Sales Have Worst Start Since 2005 as Economy Slows Bloomberg. But inflation has slowed, so Mr. Market assumes the Chinese officialdom will engage in more stimulus.
Measuring China’s real estate bubble MacroBusiness
NC (more specifically, our man in Dublin, Philip Pilkington) scoops the Financial Times! FT front page story: QE blamed for surge in pensions shortfall. NC story February 14: Philip Pilkington: Pension Provider to British Government – “QE Actually Does Kill Demand!”
Chart of the Day: Monetary Transmission Mechanisms Ed Harrison
Deutsche Bank tapped ECB for up to €10bn Financial Times
FBI Director: I Have to Check to See If Obama Has the Right to Assassinate Americans On U.S. Soil George Washington
Obama lionized for tough decisions in campaign film Yahoo. “Tough” and “Obama” do not belong in the same sentence. Lambert deems this to be a “mockumentary”; I’m hoping someone can do better and with minimal editing turn it into a parody.
GOP Loses Big Voter Suppression Case In Federal Court Alternet (hat tip furzy mouse)
NAACP to challenge state voting laws before U.N. panel in Geneva McClatchy
MF Global Customers Call Trustee’s Demands ‘Unwarranted’ Bloomberg (hat tip reader Francois T)
MF Global Still Set to Pay Executive Bonuses Wall Street Journal
Obama unveils new foreclosure measures to resuscitate housing market Washington Post (hat tip Lambert). Wow, serious blow job. I need to debunk this, hopefully I’ll get to it over the weekend. Still feeling punky.
Banks foreclosing on US churches in record numbers Reuters
Wells Fargo Ends Free Checking in 6 More States Bloomberg (hat tip Lambert)
Lowering our expectations for foreclosure settlement Chicago Tribune (hat tip Lambert). This is one of the best one stop treatments on the failings of the deal, and it still misses the second lien treatment as backdoor bailout and how farcically bad the servicer consent orders are.
The Pernicious “Foreclosures are Good” Meme Dave Dayen, Firedoglake (hat tip reader Carol B)
U.S. Regulators ‘Paralyzed’ by Cost-Benefit Suits, Chilton Says Bloomberg. Um, I gather the banks manage to exclude the cost of blowing up the global economy.
An Industry’s Failure to Verify, After Trusting Floyd Norris, New York Times. I’ve said that MBIA is the only company where I would routinely feel the need to wash my hands after reading its communiques to investors.
Former New Jersey governor goes undercover as homeless man Yahoo (hat tip Lambert)
Antidote du jour:
And a bonus of sorts, hat tip reader Swedish Lex. First, I was appalled by the premise, and am not sure the movie can carry it off, but I have to say I wound up enjoying the trailer. Second, I guarantee if this movie gets any circulation in the US, it will be credited with inspiring a nutjob (not that said nutjob would not have eventually found some other excuse for what is now called “going postal”):
http://hat4uk.wordpress.com/2012/03/09/isda-greek-bond-judgement-unanimous/
ISDA GREEK BOND JUDGEMENT: UNANIMOUS (?)
After seven hours of deliberation, ISDA tonight reached a unanimous decision that the Greek bond swap represented a default, triggering CDS insurance totalling some $3.5bn.It’s a bit hard to see how you argue uphill and down dale for that amount of time…and them emerge unanimous.
The Dow Jones newswire was reporting earlier this evening that ISDA felt its decision ‘could only be made once CACs are formally activated by Greece’.
Five hours to get to that?
Hmm. I wonder what any Slog reader – road sweeper, rodent capture operative, £18M bonus earner at Barclays, washed-up hack, mother of seven – truly thought the oft-expressed intention today by Greek authorities to activate CACs was likely not to turn into a formal activation. After all, Mr Venizelos was wearing a tie when he said he would force the remaining non-joiners into participation. Perhaps for the purposes of ISDA monitoring, Evangelo should don a dicky-bow and enunciate clearly, “Watch my lips Charles Dallara, I’m going to invoke CACs and force you misirable f**kers into accepting this deal”. Maybe that would do it.
At any rate, back then, it clearly hadn’t done it for Dallara himself. Earlier this afternoon, he told CNBC, “The voluntary, negotiated nature of this deal is notable.” Well hey Charlie, you know what? There’s 25 billion euros of pissed-off investors out there saying their lack of acquiescence is pretty damned notable too, because they got forced into a pen they didn’t wanna be in. And we didn’t even get to the foreign law guys yet.
Later still – what one might call mid-evening – BBC economics bod Mark Broad tweeted thus: ‘Still no announcement from ISDA as they are waiting for an official anno from Greek gov. Source says it could now be tomorrow am’
An official anno, eh? Were we talking anno domini here, or just a ‘no’? It looked like we were going to have to wait. The entire eurozone debt experience has, lets be clear about this, been one long series of waits while a varied collection of stakeholders found acceptable ways to stake their claims.
Time for a puerile parallel….
And there is breaking news coming in….yes, this is a very late flash, from the San Francisco Insurance & All Risks Solid Respectable Company Inc, and yes…it’s a clear statement of their position, dated April 19th 1906:
‘Following yesterday’s muted sub-crust disturbance in the San Francisco zone, the Global Earth Tremor & Live Ongoing Seismograph Translator (GETLOST) has ruled as follows: ‘At 29.6 on the Richter Scale, we can confirm that the resultant earthquake lies well outside our established guidelines of 4.5 – 9.6 in order to trigger a claim for damage. Getlost therefore rules that no applicable seismic event has taken place’.
Anyway, ISDA has at last recognised a credit event when it sees one. And just ten minutes ago at 21.10 GMT, a statement from these near-sighted folks said that they didn’t ‘see significant impact on markets from Greek default’.
Which probably explains why they reached the unanimous verdict they did.
Monday may be very exciting in the U.S. markets.
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