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Marketplace Scratch Pad

Morning Reading

Scott Jagow Mar 30, 2009

The big story of the morning is the government’s response to Detroit’s carmakers. I’ll have something on that shortly. In the meantime, here are some of the other columns and stories that caught my attention:

GE sees first ‘glimmers of hope’ in economy (Financial Times)
Mr Beccalli said: “The first glimmers of hope are there. This is the inversion of trends, which for a long period have been going down. The glimmers weren’t there two months ago”.

Americans Say, Free the Job Creators (Real Clear Markets)
“There is wisdom in crowds, and that is surely true of the American people on this subject. Since 1980, all net job growth in this country has been driven by firms less than five years old – that is, by the brash young start-ups that become the behemoths of tomorrow.”

Fannie And Freddie To Get Even More Responsibilities (Clusterstock)
“Frankly, we think it’s a prima facie bad idea to give a greater role to these organizations, which have proven to be inept at what they do. It’s also worth wondering why it’s the policy of the government to undermine Bank of America and Wells Fargo.”

How I helped build the bomb that blew up Wall Street (New York Magazine)
“I have been called the devil by strangers and “the Facilitator” by friends. It’s not uncommon for people, when I tell them what I used to do, to ask if I feel guilty. I do, somewhat, and it nags at me…. I wrote the software that turned mortgages into bonds.”

Times Nukes Itself On Google (Gawker)
“The Times’ longtime online chief, Martin Niesenholtz, recently whined that a Google search on the word “Gaza” didn’t include any of his content on the first results page. And yet he just nuked 121,000 of his own articles containing that keyword.”

Skype Announces Service for iPhone, BlackBerry (Reuters)
“Whether you’re Twitter, MySpace or Facebook you want to be embedded in the address book,” said Wood. “This puts Skype firmly into the game.”

Is Facebook Growing Up Too Fast? (DealBook)
“As Facebook expands, it’s also struggling to match the momentum of hot new start-ups like Twitter, the micro-blogging service, while managing the expectations of young, tech-savvy early adopters, attracting mainstream moms and dads, and justifying its hype-carbonated valuation.”

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