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Marketplace Scratch Pad

Morning Reading

Scott Jagow Sep 11, 2009

You couldn’t make this stuff up. Neighbors say an executive from Wells Fargo moved into a $12 million Malibu Beach home after the bank foreclosed upon it. She threw parties and basically treated it as her own property. The previous owners had been devastated by their investments with — you guessed it — Bernie Madoff.

More from Dealbook:

“It’s outrageous to take over a property like that, not make it available and then put someone from the bank in it,” said Mr. Roman, who lives a few homes away from the property.

Other readings:

Good billions after bad (Vanity Fair) This one takes some time to read, but I highly recommend it. The authors reveal how much of the TARP money “ended up in the wrong hands, doing the opposite of what was needed.”

Corporate insiders are selling stock like there’s no tomorrow (CNN Money) Not a good sign for the market.

The accountants misled us into financial crisis (New York Times)

The Keynesians were wrong again (Wall Street Journal)

Borrowing close to a trillion dollars out of the private economy to increase government spending by close to a trillion dollars does nothing to increase incentives for investment and entrepreneurship.

Where do we stand with health care reform? (PBS NewsHour)

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