Easy Street: Morning News Roundup
Easy Street is our daily morning news roundup of the most interesting news stories and commentary about Wall Street and the world beyond. Send suggestions to hmoore at marketplace dot org and http://twitter.com/moorehn
Treasury’s Cassandra: Treasury Secretary Timothy Geithner keeps warning Congress that not raising the debt limit will create a financial catastrophe. Is anyone in Congress listening?
Related: Marketplace spoke to professional investors who said that the chaos that would ensue if the debt ceiling is not raised “would make Lehman Brothers look like a joke.”
Mergers & Acquisitions
Snack Time: Diamond Foods – the maker of Pop Secret popcorn and Emerald Nuts – is going to buy Pringles from Procter & Gamble for $2.35 billion.
Oracle Ennui: Andrew Ross Sorkin asks why Warren Buffett, who has been ruthlessly protective of his reputation and integrity, has been quiet about the trades of his deputy, David Sokol.
Apple cored: About 20% of the Nasdaq-100 index come from Apple shares. The stock exchange is rebalancing the index to give other companies a chance.
Municipal Bonds: Are the pension woes of states like Wisconsin and Illinois weighing on the municipal bond markets? Or are they irrelevant?
The Washington Matrix
Google Eyed: The FTC and Justice Department may fight it out to see who gets to investigate Google for allegedly dominating the Web search business.
Can’t Win ‘Em All: The Fed gave money to 100 banks that failed anyway.
American Competitiveness: Marketplace Morning co-host Jeremy Hobson interviews U.S. Secretary of Education Arne Duncan. One takeaway: Duncan says he believes the U.S. will lead in college graduates again.
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