Friday, December 28, 2012

Friday roundup (12-28-12)

Mario Monti to lead centrist coalition in Italian elections: Mario Monti, the outgoing Italian prime minister, has confirmed he would lead a new coalition of centrist parties who are backing his pro-reform platform. (The Telegraph) Monti Says He Will Lead Coalition in Italy’s February Elections (Bloomberg)

Kyle Bass' 5 Reasons Why The Japanese Government Bond Market Will Collapse by 2016

Mississippi River could drop to critical point by next week, threatening [US] barge traffic (The Associated Press)

Matt Taibbi: Libor Scandal Is 'The Biggest Financial Corruption Case In History' (VIDEO) (The Huffington Post blog) Rolling Stone's Matt Taibbi on the biggest Wall Street story of the year: Libor: Matt Taibbi, a contributing editor for Rolling Stone, cites the Libor scandal as the biggest Wall Street-related story of 2012 in this "Viewpoint" Web exclusive. The ongoing investigation into possible rate-rigging is embroiling banks around the globe. "If it's true that the 16 biggest banks in the world were fixing global interest rates, then it's hard not to argue that that's not the biggest financial corruption case in history," Taibbi says. (Current)

Financial Reform’s Breakthrough Year [Will Be 2013?] by Simon Johnson (Project Syndicate)

     The aim of this blog is to show (mostly from reports in mainstream respected news sources) that there is reason to believe that both the United States and the global economies remain fragile in the wake of the financial crisis of 2008 and that a number of threats that exist today could, if they worsened, bring about economic depression -- not just a minor depression, but a depression worse than the Great Depression. This blog further attempts to show that the financial crisis of 2008 was largely a result of the devastating consequences of excessive risk taking and the absence of effective regulation of such behavior. Furthermore, this blog maintains that not only have the lessons that should have been learned from this experience not been learned, but that the risks to the economy, including the persistent building up of "too big to fail" institutions, have actually increased since the crisis began. Finally this blog also brings to light, from time to time, reports of a parallel threat to economic well-being developing in the energy industry, which suggest an energy shock may be coming much closer in time than is generally imagined.

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