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Thursday, October 22, 2009

More on Fixing Finance

Fixing finance:

How Paulson gave Goldman the Lehman heads-up
Felix Salmon, Reuters Blogs, October 21, 2009
The secret Paulson-Goldman meeting wasn't the only time that Hank Paulson treated his buddies at Goldman Sachs especially well while at Treasury. In fact, it wasn't the only time he did so before he got the now-famous waiver.
http://blogs.reuters.com/felix-salmon/2009/10/21/how-paulson-gave-goldman-the-lehman-heads-up/

In Banking, Bigger Is Not Better
Simon Johnson, Economix, October 22, 2009
An economist makes the case for breaking up the big banks.
http://economix.blogs.nytimes.com/2009/10/22/in-banking-bigger-is-not-better/

Goldman should be allowed to fail
John Gapper, Financial Times, October 21, 2009
It might sap some resentment if taxpayers could see that Goldman's bonuses were a form of equity partnership, and that the bank would be allowed to founder in any future crisis, writes John Gapper.
http://www.ft.com/cms/s/4098f426-be6d-11de-b4ab-00144feab49a,Authorised=false.html?_i_location=http%3A%2F%2Fwww.ft.com%2Fcms%2Fs%2F0%2F4098f426-be6d-11de-b4ab-00144feab49a.html&_i_referer=

Pay Czar Decides to Collect a Few Scalps, a Sign of Weakness
Yves Smith, Naked Capitalism, October 21, 2009
Does this really mean anything? The press will noise it up as significant (and some outlets will no doubt finger wag at this "interference") but the short answer is no.
http://www.nakedcapitalism.com/2009/10/pay-czar-decides-to-collect-a-few-scalps-a-sign-of-weakness.html

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