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Everyone is Wrong on China and US Debt

Krugman says Bill Gross is wrong (NYT) The end of QE2 won't drive up rates.

Slideshow: Lynn Tilton (Forbes) Really, you can never have too much Lynn Tilton.

5 Highlights From the Fed's New Mortgage Rules (The Atlantic) The Fed wants lenders to be sure borrowers can afford their loans. Radicalism!

Buffett and Sokol Sued Over Trading in Lubrizol Shares (DealBook) It's a shareholder derivative complaint, the favorite tool of vulture trial lawyers.

Another Economist Jumps On The Remarkable Pro-Default Bandwagon (Business Insider) If there are reasons to default, they aren't to be found in this bit of absurdity

Is the Yuan Undervalued? (Mish) Don't be so sure.

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