Extra Credit, Thursday Edition

Will the Banking Crisis End with Nationalization? A very interesting discussion, if I do say so myself, between Binyamin Appelbaum, Peter Cohan, Simon Johnson, and me. The upshot: nationalization is politically unpalatable, but there are very similar alternatives which can and should be adopted instead. The NYT also joins the debate about Nationalizing the Bank Problem.

Dollar schizophrenia: "Either America is very upset with China for doing something that’s in America’s national interest, or American officials are very much opposed to things which are in the national interest, or quite a bit of Treasury testimony and public statements generally consists of large loads of hooey. Naturally, it’s the latter. On this score, at least, the new boss will be just the same as the old boss."

The Dirt Bag Chronicles: Hank Paulson, Bob Rubin, John Thain… is Goldman’s reputation finally losing its luster?

Book Review: "The Decline and Fall of the British Aristocracy": I’m beginning to think that the best thing to do with money is just spend it. Solves all your long-term investment problems at a stroke.

That JP Morgan picture – official redux: JP Morgan finally gets the area vs diameter thing right.

Christopher Cox Leaves: To zero lamentation.

Did John Thain lose his job because he acted like it’s still 2007? Spending $1.2 million on decorating your office "is all basically stuff that top Wall Street executives do", says Justin Fox. But Thain, says John Gapper, is "unusually low-key, modest and amiable for a Wall Street executive". Which makes one wonder what other Wall Street executives spend on their offices.

Rep. Oberstar: Rail Had to Take a Back Seat to Tax Cuts: It doesn’t make sense to cut stimulus spending on passenger rail.

Obama Will Get His Blackberry: Some good news for 44, he probably needs it.

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One Response to Extra Credit, Thursday Edition

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