The Journal Analyzes a Government “Gift”

The Wall Street Journal has a nifty bit of analysis this morning looking at how much money banks are saving by an indirect government subsidy. Since the fall, the government has guaranteed $339 billion of new short-to-medium-term debt issued by many banks (and some non-banks, like General Electric). That program, one of several in the bailout alphabet soup, is...

Relax, Bloggers. The AP Isn’t Out to Get You

I started a post this morning about the issue causing much, um, consternation amongst the media blogs today: The Associated Press initiative to fight copyright infringement of its content. I was all ready to write something like everybody else that said something to the effect of the AP being stupid if it thought it could restrict people from quoting...

Weil on the End of “Nothing to See Here” Accounting

Jonathan Weil of Bloomberg reports that the accounting-standards board is going to actually make companies (read: banks) price assets on their balance sheets at their fair value. What a concept! As you may recall, the Financial Accounting Standards Board did an embarrassing one-eighty on mark-to-market accounting after facing withering pressure from banks and their pals in Congress this...

The Times Takes on High-Frequency Trading

The New York Times puts the high-frequency trading issue front and center on the nation's agenda this morning with an excellent story above the fold on page one. We've been calling for the press to hit this topic for weeks, ever since Reuters broke the news that an ex-Goldman Sachs employee had been arrested for...