Some good stuff to read this morning. Lets start with a great question:
Why hasn’t anyone been prosecuted for the subprime fiasco? (Fortune) Quote of the day:
“The perp walk has been remarkably absent during this crisis,” said Steven Ramirez, a law professor at Loyola University Chicago, referring to the practice of parading a criminal defendant before the press on the way to court. “I don’t think it’s because of a lack of criminal activity.”
Fight looms over home buyer tax credit (New York Times) Can the housing market function without it?
Pay increases for people with jobs (NYT) It’s the old sticky-wage theory:
The theory holds that executives of companies don’t cut pay, even when demand for labor has fallen. They worry that employees will become less motivated or start looking for another job, says Laury Sejen, who oversees the compensation consultants at Watson Wyatt. So companies instead lay off workers or stop hiring. They concentrate the pain.
Women and minorities aren’t getting their share of stimulus money in Illinois (An investigation by Chicago Public Radio)
Trade tensions flare between the US and China (PBS NewsHour)
Exploring a Saturn moon by boat (NPR) Says it could be done relatively inexpensively too. Relative to what? Bailouts?
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