Assorted Links

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

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