Judge Throws Monkey Wrench Into Lehman Bankruptcy Trial
A famous Roman poem begins: Bella mihi, video, bella parantur. Translation from Latin: Wars I fear — wars are in store for me. So it is with the U.S. mortgage disaster: (New York Times) "While even critics of the big lenders acknowledge that the vast majority of foreclosures involve homeowners who have not paid their mortgages, they argue that the borrowers are entitled to due legal process." And therein lies the paradox.
Do Fannie & Freddie Need More Cash? (New York Times)The GSEs may end up costing taxpayers another $124 billion. Or maybe not: No one really knows — due to the uncertainty involved in both the value of the underlying assets and the direction of the U.S. economy. But what's of an eighth of a trillion dollars among friends?
China Balances Growth and Inflation (New York Times)With growth in the high double digits — and the specter of rising prices — China examines its options.
Is Silver the New Gold? (CNBC.com)Industrial demand is strong — but the real action comes from investment demand.
Weedonomics! (NYC Bay Area)California's marijuana crop worth seven times more than wine industry!
Companies Can't Depend on US to Reach Profit Goals Anymore (CNBC.com)CNBC's Jeff Cox explores the current growth spurt in emerging markets, and looks into the implications for American corporations.
Country Highway Becomes Ground Zero for Battle with Big Oil (New York Times)Oil companies are attempting to use U.S. Highway 12 in Idaho as a primary artery to the oil sands of Canada: And the battle for the country highway is devolving into a broader proxy war.
Google: Do No Evil – Pay Low Taxes? (BusinessWeek) How does Google manage to keep its corporate tax rate under 2.5%? Complex legal structures and international tax havens are the key.
Unemployment Report (BusinessWeek)Grim: even if numbers improve, it's probably not enough.
Sex Sells — for 13 Million (CNBC.com) The domain name sex.com was sold by its bankrupt owner to Clover Holdings for 13 million dollars, court papers filed Monday reveal.
Judge throws monkey wrench into Lehman bankruptcy trial. (Boomberg) Judge Peck just said he never approved the final allocation of assets sold to Barclays. Seems to be a signal that Barclays might wind up having to pay billions to the Lehman estate.