FURTHER FURTHER READING
- In a good world, would we have to deal with global imbalances?
- A blog review of rational expectations and inflation.
- The new Journal of Economic Perspectives is out.
- Shadow banking: repo CCPs, anyone?
- Why people are upset by Tim Geithner's decision to join a private equity firm.
FT EVENING ROUND-UP
JPMorgan agrees to shoulder WaMu bill: "JPMorgan Chase has conceded it will take responsibility for the past misdeeds of Washington Mutual, according to people familiar with the matter, paving the way for the Department of Justice to announce the biggest ever settlement with a single company. People close to the sometimes fractious talks over the US government's investigation into mortgage securities mis-selling say that the DoJ is poised to announce a $13bn settlement with JPMorgan this week after the bank accepted it would not try to claim back part of the costs from the government-managed receivership of WaMu." (Financial Times)
US stocks set new intraday highs: "The US stock market hit new intraday heights on Monday, with the benchmark S&P 500 index surpassing the 1,800 level as investors bet that the era of easy monetary policy would last a few months longer. The milestone came as the technology heavy Nasdaq Composite approached 4,000, a level it last touched during the dotcom bubble 13 years ago, and the Dow Jones Industrial Average reached 16,000. " (Financial Times)
Angela Merkel says spy scandal is testing EU-US trade talks: "German chancellor Angela Merkel on Monday warned that the NSA spying scandal was putting pressure on talks to forge an EU-US trade pact, in the clearest sign yet of the affair's impact on economic ties. Speaking before the German parliament, Ms Merkel urged Washington to provide "a clarification" of its alleged mass surveillance as "a basis for building new transatlantic trust"." (Financial Times)
