Whitney: regional banks are the future. WSJ Blog Real-Time Economics.
The real AIG scandal, continued. Eliot Spitzer, Slate.
The quiet coup. Simon Johnson, The Atlantic.
Banks buying assets to sell through govt programs... does it even matter? Jake, EconompicData.
the discussion on PPIP is interesting, but what really caught my eye is the chart on commercial mortgage carrying valuations at banks
for similar, see:
The ridiculous marks of toxic assets. Zero Hedge.
Recoveries: down and out. A Credit Trader.
Geithner calls for new rules of the game. Calculated Risk.
key insight:
Imagine if the Federal Reserve had been the "systemic-risk regulator" during the bubble. According to Greenspan in 2005 "we don't perceive that there is a national bubble", just "a little froth", and even in March 2007 Bernanke said "the impact on the broader economy and financial markets of the problems in the subprime market seems likely to be contained".How would a systemic-risk regulator help if they miss the problem?
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