A bank and two ratings agencies will have to defend a class-action lawsuit over subprime mortgages. Are companies ready to spend again? Will YouTube rent movies? Is the iPhone actually a pig? Many important questions this morning:
Read more about the subprime case at Reuters:
A U.S. federal judge ruled that Morgan Stanley (MS.N) and two credit rating agencies must defend fraud charges in a class-action lawsuit accusing them of masking the risks of an investment linked to subprime mortgages, and which eventually collapsed.
Boom and bust capitalism won’t be fixed (Daily Telegraph)
Are companies ready to spend again? (Businessweek)
Does Bernanke = Keynes or Friedman? (Reason)
The iPhone is a bandwidth-guzzling Hummer (New York Times)
YouTube to rent movies? (LA Times) Finally, a way to make money?
Professional beer pong? Sweet. (Marketplace Morning Report)