Links For A Saturday Morning (June 6, 2009)

Foreclosures: No End In Sight 

I will repeat it until I am blue in the face.  Foreclosures are NOT the problem.  They are the solution.  Read the comments to this NYT article and you will see hundreds of others make this point very clearly.  Home prices are still over-valued relative to incomes.  Foreclosure prevention without massive principal reduction only delays the inevitable, later foreclosure.  The editorial above completely misses the mark.

Alt-A Loans: Second Wave Of Foreclosures Ahead

More Public Pension Abuses: San Diego Style

Public-Employee Pension Data Must Be Open

Stiglitz and Chanos Discuss Short Selling and the Market

Michael Moore Asks The Goldman Question

Skip all the way to the end of the last paragraph for Moore's question for Blankfein.

Banks Try to Stiff-Arm New Rule

If a sub is required, use this link and then click the top result.  Never a sub through google.

Inside Scoop On Bank's Efforts to Defeat Fair-Value Accounting

Alternate link for the above

Fed Oversight Discussion

James first brought this to our attention.  Alan Grayson addressed Shelby's bill this week and seemed pleased, so I'm not going to worry yet that it's being diluted.

Funny Link: Be Careful What You Buy At The Convenience Store

Just some things I've been reading this morning.  Will probably add more later.

Comments

[Ain't Bullshittin']

I just can't laugh. Microsoft is contemplating moving it's entire operation overseas. The new Obama tax methodology is to tax overseas profits at a higher rate...Therefore, keeping companies from outsourcing jobs to other countries. The plan sucks because instead of loosing a few tech jobs we may indeed loose the entire company. Tech companies make the majority of their profits in emerging markets and it only makes sense to move to an area where your tax burden would be lighter. Way to go "O".....another 150,000 jobs saved....RIGHT? Can we get someone with 1/2 of a brain to give OUR President some sound economic advice?....ANYONE??????????????

[DailyBail]

AB.

I've seen that story. Not sure I've grasped the ramifications completely yet. Here's a link to it.

http://www.crunchgear.com/2009/06/04/patriotic-microsoft-threatens-to-move-us-jobs-overseas-rather-than-pay-taxes/

To laugh just watch this video It worked for me.

http://www.youtube.com/watch?v=2HWEXUzzmDY&eurl=http%3A%2F%2Fwww%2Etime%2Ecom%2Ftime%2Farts%2Farticle%2F0%2C8599%2C1902420%2C00%2Ehtml%3Fimw%3DY&feature=player_embedded

[DailyBail]

story on elizabeth warren from a few weeks ago. i believe her words about compensation limits on p-pip particiapants helped kill the goose. Another reason to love Elizabeth.

http://briefingroom.thehill.com/2009/05/11/govt-looking-at-broadening-caps-on-executive-pay/

[DailyBail]

Sweden's Pirate Party wins parliament seat

http://af.reuters.com/article/oddlyEnoughNews/idAFTRE55623320090607

[DailyBail]

Alternative voices on climate change.

Off topic but interesting.

http://hamptonroads.com.nyud.net/2009/06/global-warming-not-so-fast-skeptics-say-meeting

[DailyBail]

MUST READ.

Will the Bond Market Destroy The Stock Rally?

http://apnews.myway.com/article/20090606/D98L67500.html