Troubled Asset Relief Program: The second Warren report (pdf).
Nationwide Inquiry on Bids for Municipal Bonds: It’s always been a very sleazy backwater of finance, and it’s good to see it getting its comeuppance. A very good overview of the scandal from the NYT.
Post Model Manifesto: "If everyone has the same truth, the system fails as it teeters toward an extreme. A uni-model system is less stable than multi modeled one."
Merkin’s Art Adviser Bought Expensive Rothkos, Lost Millions: The disgraced Ezra Merkin owns two 9’x15′ late Rothkos. But maybe not for long.
So If You Lose Less Than A Billion, What Does That Make You? Once a star trader, always a star trader.