Archive for July 21st, 2011

Little time for Italy

July 21, 2011

Paolo Manasse & Giulio Trigilia in this piece look at recent concerns on Italy where bond yields shot up all of a sudden.

They say much of this problem is because of Italian economy and not because of spillover from Euro debt crisis. Italy has always had weak public finances and low productivity making it a candidate for such runs.

Just look at the weaknesses:

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Fed penalises Wells Fargo in the largest consumer-protection enforcement action

July 21, 2011

This is a pretty intersting and sad reflection of what was happening before the crisis.

Wells Fargo was imposed a $85 million penalty for pushing prime loan customers into subprime loan categors and falsified loan docs as well. All for making more salaries. This is the largest penalty on a consumer protection case:

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Krugman’s reading list

July 21, 2011

Thebrowser is doing a fab job of asking economists to pick their favorite/must read books on a topic. This time it is Paul Krugman who picks books one should be reading.

His picks are:

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