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Broker Wars Are Back!

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Merrill dangles rich signing bonuses to top brokers (Reuters) Signing bonuses can now equal150 percent of the fees and commissions generated over the previous 12 months. Cha-ching!

The financial con of the decade (Of Two Minds) The financial elite don’t want hyperinflation—so we won’t get hyperinflation. They want safe debt with high yields. Cue the end of qualitative easing, rising rates, and taxpayers once again enriching the elite.

Tim Geithner convinced Andrew Cuomo to back off of Wall Street prosecutions (NYT) Same rationale as bailouts: calm the markets by protecting the financial elite from the consequences of their actions.

The FBI Seizes The Three Biggest U.S. Poker Websites (Business Insider) Finally, some relief for embattled Las Vegas.

Deutsche Bank's Dodd-Frank Gambit: Too Clever by Half (Economics of Contempt) A clever attempt to avoid US capital requirements may not work.