1. JRV points to UBS shareholder report which says:
UBS started buying US asset backed securities in 2002 because it thought that Japanese Government Bonds were too risky!!
So Government bonds were riskier than sub-prime!!
2. IDB points to a new document on inclusive growth and role of panchayats
3. WSJ Blog points ECB can go eitherways
4. Frankel points that LIBOR spreads have corrected a bit and financial crisis becomes worse
5. FIn Rounds Blog points to a new blog on empirical finance
