Everyone Wants to Work for Goldman Sachs

Is China the new Japan? (MoneyGame) China bought 640.8 billion yen of Japanese government debt in July, bringing its total purchases so far this year to a record high.

Bank of England Holds Interest Rates at 0.5% (Reuters @CNBC.com) No Change!

UK Fines Goldman (Wall Street Journal)Goldman Sachs agreed to a fine of $27.1 million as part of an investigation by the Financial Services Authority.

FDIC's Bair: Regulators Should Tighten Lending Rules for Home Mortgages in The US (CNBC) "I think we should all be concerned about the type of exposure that the government is taking on through guaranteeing so many mortgages right now," Bair says.

Falling Rates Aid Debtors, but Hamper Savers (New York Times) America's real class war.

Everyone wants to work at Goldman Sachs (New York Post) A Vault.com survey confirms what everyone already knows.

PE Tax Hike Coming (New York Post) Senator Max Baucus, the lawmaker who has blocked three attempts to raise the income tax paid by buyout firms, is now set to favor the so-called Enterprise Value Tax. It would more than double the tax bite for PE firms.