Brits & Swiss Cut a Deal on Banking Secrecy, Tax Revenue

"Why Some Republicans Don't Want to Win the Senate" ( Here's the idea: If the GOP controls the House and the Senate they get blamed for the legislative agenda. You break it, you buy it — and with this economy, who wants it?


Elections, Tax Cuts, Spending: A Troika of Tribulations (New York Times) After the elections, it's time to make the tough decision. Who gets to keep what tax cut – and at what cost in spending. And remember: If you have a 5th Avenue penthouse apartment you plan on unloading, you'd better do it quickly: Tax cuts expire in 59 days.

Be Careful What You Wish For, Jamie (Bloomberg) Dimon wanted WaMu and he got it — along with $74.8 billion in non-performing home loans (That's about 32.5 percent of JPM's total non-performing loan portfolio, for those of you scoring at home.) Still, as this detailed an informative article points out, JPMorgan is the least awful big bank.

Key Gubernatorial Races (Wall Street Journal) The Wall Street Journal maps out the races for governor in ten key states. (Of course, since we're talking about races for governor, it doesn't much matter unless you live in one.) New Yorkers: You can relax: Your race is kind of a snooze: Real Clear Politics' poll of polls has Cuomo by the landslide margin of +20 percent.

Interest Rates + Elections = 'Varied Speculation' (Reuters) Handicapping the bond markets and the magnitude of QE2 not challenging enough? Throw in one more enormous undefined variable: The outcome of the 2010 midterm elections.

Apple's Core Cash (Businessweek) Steve Jobs does a lot of things really well: Managing return on cash isn't one of them. He's getting around 75 basis points of annualized return on about $25 billion in cash and short term securities. (That's as much money as the nation of Jordan's GDP. Nope, they don't have oil. I checked.)

Obama's Neighbors Gut the Joint (New York Times) Think dealing with contractors during your home renovations is a hassle? Thank your lucky stars you don't live next door to the president.

When Guidettes Attack (NY Post) What can I add?

FrontPoint Hedge Fund Got Illegal Tips—Sources (Reuters)