Vast majorities. Paul Krugman.
Why the green shoots of recovery could yet wither. Martin Wolf, FT.
and for those who don't have time to read the full IMF GFSR (linked to yesterday), here's a few notes on it from two places:
Give the IMF credit (literally and figuratively). Brad Setser, Follow the Money.
We are not even half-way through the banking crisis, IMF. Edmund Conway, Telegraph.
World Economic Outlook: Crisis and Recovery. IMF. April 2009. (chapters 3 and 4 were made available earlier, but the full report was just released today.
Seven broad lessons for the United States from Japan's lost decade. Adam Posen, Peterson Institute for International Economics.
The economic impact of increased U.S. savings. Charles Atkins and Susan Lund, McKinsey Global Institute.
Testimony before the Joint Economic Committee. Thomas Hoenig, President, Federal Reserve Bank of Kansas City.
Hoenig agrees with Stiglitz, Simon Johnson and others that too-big-to-fail firms are too big to exist; recommends process of triage, including negotiated conservatorship for nonviable firms, and constraining the political sway of financial oligarchs
Weak fundamentals suggest oil prices will remain low. Oxford Analytica, via Research Recap.
Warning: "What you don't report on your balance sheet can screw the average investor!" Reggie Middleton.
I didn't link to this on Monday b/c I figured I couldn't link to him EVERY week, but, once again, Hussman is well worth a read:
Wishful thinking. John Hussman.
The "great white-wash" of 1Q bank earnings. Meredith Whitney on Bloomberg, via YouTube.
one can only guess at how bad the stress is working at places like FNM or AIG; sadly:
Freddie Mac acting CFO David Kellermann found dead. Bloomberg.
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