- Thanks to the Bank it's a crisis; in the eurozone it's a total catastrophe (Telegraph)
- The case for netting CDS faster (Sudden Debt)
- Latest U.S. railroad data showing stabilization at 15% decline (Association of American Railroads)
- U.K. house prices 'could fall by further 55 per cent' (Telegraph)
- Debating the future of China’s economy (The National Interest)
- Letters from Samuel Beckett (TLS)
I'd like to offer the following links:
A Tsunami of Excuses
By WILLIAM D. COHAN
Published: March 11, 2009
Argues against stupidity defense.
"Financial Fraud Is Focus of Attack by Prosecutors
By DAVID SEGAL
Argues against stupidity defense, but also explains why it often works ( here's a hint: everybody was doing it ).
The Looting of America’s Coffers
By DAVID LEONHARDT
Published: March 10, 2009
Argues against the "They drank the Kool-Aid" defense, and, about those govt guarantees, it turns out that they matter.