Extra Credit, Tuesday Edition

What are corporate bonds worth in a recession? Possibly substantially more than they’re trading at now.

Translating Corporate Speak: Wynn [Unforeseen Upside Edition #2]: Steve Wynn shows how stock buybacks should be done.

The official word on whether capital gains tax cuts increase revenue (it’s no)

FAS 157: The FASB’s Prelude and Fugue on Fair Value of Liabilities: Nerdy but good. Don’t try to place a value on liabilities, instead just value the counterparty’s asset.

Jerry Yang, Meet the Shift Key: "We would suggest that Mr. Yang rustle up a “yahoo” to show him how to make a little “y” big. But we’re certain he knows the location of the “shift” key — it must be struck in order to render an exclamation point, which, in Saturday’s email, Mr. Yang did five times."

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