Chris Whalen & Josh Rosner With Kathleen Hays On Banks, Bailouts, Europe, Dodd-Frank And The Debt Ceiling

From Friday morning July 22 on Bloomberg radio with Kathleen Hays, an outstanding discussion with Whalen and Rosner.

• Listen HERE on Bloomberg

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Recently from Chris Whalen's Reuters Blog (all new stories not previously posted):

• Paul Krugman and the neo-Keynesian myth of full employment

• The charade of EU bank stress tests

• “Reckless Endangerment” and the unwritten history of Washington

• On debt ceilings and conforming loan caps

• The Housing GSEs and TBTF Banks Are Blocking the Economic Recovery!

Comments

[DailyBail]

Here's the quote of the day on the debt negotiation farce:

Today's intrepid White House pool reporter, The Hill's Sam Youngman, on the state of the negotiations: "DC is a big bag of suck that couldn't solve a rubik's cube if it were all one color."

http://www.washingtonsblog.com/2011/07/dc-is-big-bag-of-suck-that-couldnt.html

[DailyBail]

'Super Congress': Debt Ceiling Negotiators Aim To Create New Legislative Body

WASHINGTON -- Debt ceiling negotiators think they've hit on a solution to address the debt ceiling impasse and the public's unwillingness to let go of benefits such as Medicare and Social Security that have been earned over a lifetime of work: Create a new Congress.

This "Super Congress," composed of members of both chambers and both parties, isn't mentioned anywhere in the Constitution, but would be granted extraordinary new powers. Under a plan put forth by Senate Minority Leader Mitch McConnell (R-Ky.) and his counterpart Majority Leader Harry Reid (D-Nev.), legislation to lift the debt ceiling would be accompanied by the creation of a 12-member panel made up of 12 lawmakers -- six from each chamber and six from each party.

http://www.huffingtonpost.com/2011/07/23/super-congress-debt-ceiling_n_907887.html

[DailyBail]

Liable For Fraud: In Florida & New York, Bank Lawyers Now Responsible For Accuracy Of Foreclosure Documents

http://dailybail.com/home/liable-for-fraud-in-florida-new-york-bank-lawyers-now-respon.html

[DailyBail]

Rep. David Wu has been accused of an “unwanted sexual encounter” with the teenage daughter of a longtime friend, the latest scandal to engulf the troubled Oregon Democrat.

http://www.politico.com/news/stories/0711/59706.html#ixzz1T7kE2csf

[DailyBail]

Sources: Young woman accuses Oregon Rep. David Wu of aggressive, unwanted sexual encounter

http://www.oregonlive.com/politics/index.ssf/2011/07/rep_david_wu_accused_of_aggres.html

[DailyBail]

Grizzly attacks 7 teens in Talkeetna Mountains

http://www.adn.com/2011/07/24/1983379/grizzly-sow-attacks-group-of-seven.html

[DailyBail]

At least 35 people have died and more than 200 are hurt after two high-speed trains crashed into each other in eastern China, state media reports.

Two train coaches fell off a bridge after derailing close to Wenzhou in Zhejiang province.

http://www.bbc.co.uk/news/world-asia-pacific-14262276

Includes video

[john]

Brazil announces tax increase for derivatives operations

http://news.xinhuanet.com/english2010/business/2011-07/28/c_131014997.htm