Items of Interest:
Prof. Willem Buiter / FT.com - maverecon:
The green shoots are weeds growing through the rubble in the ruins of the global economy -- This financial crisis will end. The Great Contraction of the Noughties also will come to an end. But neither the financial crisis nor the contraction of the global real economy are over yet. As regards the financial sector, we are not too far - probably less than a year - from the beginning of the end. The impact of the collapse of real economic activity and of the associated dramatic increase in defaults and insolvencies by non-financial enterprises and households on the loan book of what is left of the banking sector will begin to show up in the banks’ financial reports at the end of the summer and in the autumn. By the end of the year - early 2010 at the latest - we will know which banks will survive and which ones are headed for the scrap heap. With the resolution of the current pervasive uncertainty about the true state of the banks’ balance sheets and about their off-balance-sheet exposures, normal financial intermediation will be able to resume later in 2010...
Economists see more job losses, 9.8% unemployment -- Nearly one in 10 U.S. workers will be unemployed before the job market starts to improve, economists in a USA TODAY survey predict. ...
GM to cut total of 21,000 US jobs -- General Motors is to cut 21,000 jobs in the US this year and phase out its Pontiac brand, as it aims to restructure its business...
- Swine Flu: Nothing New - Turi McNamee, True Slant
- Flu Hits Mexican Market, Muted Global Reaction - Tom Petruno, LA Time
- Swine Flu: 10 Stocks To Watch - Wherry, Burrows & Swarts, Smart Money
Bank of America dumps Countrywide name -- Here's a shocker - Bank of America deems the "Countrywide" name so tarnished by the events of the last year that it can't bear to keep it hanging around. This report has all the details. Bank of America Corp. has dropped the Countrywide name from its mortgage operations, shedding a 40-year-old brand that had become synonymous with risky lending ...
Geithner, Member and Overseer of Finance Club -- During five years as head of the New York Fed, Treasury Secretary Timothy F. Geithner built unusually close relationships with Wall Street executives...
Felix Salmon / Economics Roundtable: Picking on Geithner
Ken Houghton / Angry Bear: I Do Not Think "Tool" Means What You Think It Does
Paul Kedrosky: Tim Geithner, Outlook Calendar and the Valenzetti Equation
Naked Capitalism: Are The Knives Coming Out For Geithner?
Tim Geithner Is Not a Tool of Wall Street — America’s liberals lay into Obama: The liberal backlash against President Barack Obama has begun with many prominent left-leaning economists in the US attacking the administration’s plans to bail out the banks...
Tim Geithner Thumbs His Nose at Congress — The Treasury Secretary has learned how to keep secrets from Congress...
Condé Nast Closes Portfolio Magazine -- Portfolio, a business magazine that Conde Nast began publishing in April 2007 with much fanfare, will cease publication immediately...
Jon Fine / BusinessWeek: Why Portfolio Magazine Failed
- Obama's No Socialist - Michael Maiello, Forbes
- Paulson’s ‘Gift’ to Lewis Delivered at Gunpoint - Caroline Baum, Bloomberg
- Mitt Romney Sets The New GOP Trend—Downsizing - Bruce Reed, Slate
- Is Ex-Bear Stearns CEO Headed to Goldman? - William Cohan, Fortune
- Forget Buy & Hold, Try Buy & Monitor - Chuck Jaffe, MarketWatch
- The Fed Will Take A Breath This Week - Desmond Lachman, The American
- National Health Care With 51 Votes - John Sununu, Wall Street Journal
- 5 Things To Know This Week - Kevin Depew, MSN Money
- 25 Years For Stocks to Bounce Back? Try 4 1/2 - Mark Hulbert, NY Times
- Thank Uncle Sam For the Stock Rally - Bill Fleckenstein, MSN Money
- Developing Government Into a Cult of Personalities - Bill Frezza, RCM
- Paulson, Bernanke and the Busting of BofA - Editorial, Wall Street Journal
- One Nation Under Banks With Little Justice - Jonathan Weil, Bloomberg
- Are the Banks Struggling, or Scamming? - Nicholas Von Hoffman, Nation
- Capital Well Is Running Dry - Ambrose Evans-Pritchard, Daily Telegraph
- Wall Street Wants Money for Nothing - Paul Krugman, New York Times
- There's Plenty of Energy Out There - William Tucker, American Spectator
- Selling the Green Economy - Robert Samuelson, Washington Post
- Creative Destruction In the Legal World - Daniel Burrell, RealClearMarkets
- Forget Inflation Targets, Seek Dollar-Price Stability - John Tamny, Forbes
- A Monetarist View of the Financial Crisis - Guy Sorman, City Journal
- Thain Vs. Lewis: One Of Them Is Lying - Barry Ritholtz, The Big Picture
- 5 Questions For Robert Reich - The Economist