Afternoon Reading

Some items to read over the long holiday weekend:

• Fissures Appear at the New York Fed (WSJ)

• Matt Taibbi on Goldman’s Response to his Rolling Stone article (True Slant)

• Manhattan Apartment Prices Drop as Lehman Effect Hits Home (Bloomberg) See also 2Q 2009 Manhattan Market Overview (Matrix)

• Talk of China bubble does not deter investors (FT)

• U.S. regulators could learn from Canada’s banks (USA Today)

• PODCAST:  Robert Shiller Yale Professor of Economics, Case Shiller Index, Irrational Exuberance

• Hotel Loan Defaults Double in U.S. as Recession Curbs Travel (Bloomberg)

• Freddie, Fannie to Provide 125% LTV Mortgages, Worse Than Extremes of Subprime Frenzy (naked capitalism)

• Unwinding at AIG Prompts Pasciucco to Ponder Systemic Failure (Bloomberg)

• Rich Harvard, Poor Harvard (Vanity Fair)

• You’ve Got Blackmail: The AOL Account That Wouldn’t Die (WSJ)

•  ZeroHedge Redesign

• Can American Farms Make Bamboo the Next Big Cash Crop? (Popular Mechanics)

• Personal Finance According to South Park (Mint)