Extra Credit, Tuesday Edition

More on Existing Home Sales: Some great charts from CR.

How Much Has Harvard Really Lost? As much as half its total endowment, according to one anonymous source.

Latvia is the new Argentina: Reform without devaluation can only end in tears.

SEC Backs Exemptions for LCH.Clearnet on CDS: The beginning of a first central CDS clearinghouse.

Noah Millman on synthetic CDOs, ratings agencies, CPDOs, etc. And, added Dante!

Madoff Victims May Have to Return Profits, Principal: "The Florida investor, who first gave his money to Madoff five years ago, said he had no hint of fraud and would go to jail rather than give up the amount he took out."

Bernie’s histogram

A Hedge Fund Manager’s Holiday Card

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