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Russians Invade The Hamptons

Ben Bernanke’s Reading List(Wall Street Journal) The Financial Crisis Inquiry Commission asked the Fed chairman what books he would recommend to help people better understand the financial crisis. He suggests three academic papers—one on the 2007 commercial paper crunch, one on how the mortgage mess became a full-blown financial meltdown, and another on how to measure systemic risk. You won’t read those. Here’s one suggestion you might: Liaquat Ahmed’s “Lords of Finance.”

Hurricane Earl: Size Matters (The Weather Channel) The storm finally blows in.

Housing: Don’t Think Of It As An Investment (The Economist) Ryan Advent puts the smack down on yesterday’s American Dream=Buying A House New York Times op-ed by Karl Case, of Case-Shiller fame.

Those Crazy ISM Numbers(Mish's Global Economic Trend Analysis) If manufacturers really did ramp up production just as the economy was slowing, they’re in a lot of trouble. Lots of goods with few buyers.

Russian Babes Hit the Hamptons(The Daily Beast) Their target is to find young, hot, hedge funders and guys in loveless marriages. WASP culture is out. The Hamptons are now Miami Beach.

Lady Brokers Sue Bank of America (Reuters) Four Merrillista's let go just four weeks after the merge claim they were discriminated against.

Insider Trading Suspected Before Burger King Takeover Deal (Businessweek) Options volume surged. Looks like someone knew a deal was in the works.

Lloyd Blankfein Chillaxing in Sag Harbor (BusinessInsider) No Russian hussies in sight.

More than 400 US Banks Will Fail: Roubini (CNBC.com) Roubini's favorite word "fail."

Why Jobs Data Are the 'Heartbeat of Capitalism'(CNBC.com) Because we all can't work for the government.

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