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nakedcapitalism<>LINKS 9/26

Links 9/26/10

http://www.nakedcapitalism.com/2010/09/links-92610.html



Lehman Bros art makes $12m in US BBC

Can We Build in a Brighter Shade of Green? New York Times. This is actually pretty cool technology. But there is another technology popular in the colder parts of Europe, using geothermal wells, which from what I can tell, is also unused here.

Study: Most Americans want wealth distribution similar to Sweden Raw Story (hat tip reader John D)

NASA v. The Scientists Air & Space. You need to read about the “suitability matrix”.

US seizes chance as China rattles Asia AFP (hat tip reader Skippy)

Iran Fights Malware Attacking Computers New York Times (hat tip reader Crocodile Chuck)

Irish response to crisis will make economy stall Independent. Um, nominal GDP is down by something like 20%. Sentiment is valid, but need to use a different tense in describing the state of the economy.

Irish Government Loses Another Supporter, Collapse Imminent Clusterstock and Mattie McGrath informs Government they’ve lost his support Politics.ie (hat tip Richard Smith)

The race is on for Greenland’s Arctic oilfields Telegraph

Ally’s GMAC unit withdraws foreclosure affidavits signed by second employee Washington Post (hat tip 4clsourefraud)

Citigroup’s View of the Obama Administration in February 2009… Brad DeLong (hat tip reader John M). Citigroup engages in removing useful historical information.

Wall Street Bond Girl. Movie review.

Questions, and Directors, Lost in the Ether Gretchen Morgenson, New York Times

Citi Boosts Executive Pay Associated Press

New Proof Wall Street Knew Its Mortgage Securities Were Subpar: Clayton Execs Testify Huffington Post. This is a frustrating piece, now that I have dug a bit. Clayton is astonishingly disingenuous. They were hired to “underwrite” subprime deals, as in screen for credit quality. Rating agencies were known to look more favorably upon underwritten deals. Clayton claims they told their clients (meaning here, investment banks) the origination had problems, yet they continued to happily take fees when they could clearly see the banks not making appropriate representations in the offering docs. Oh, and they testified to Cuomo ONLY after negotiating immunity. And they were also hired by the buy side, multiple times and gave no warnings (I have this from a client so this is direct experience plus inference from others who got input from Clayton yet kept investing in subprime). But they are presented as heroes who weren’t listened to. Barf.