Some afternoon reading for a lazy Friday:
• King Says British Banks Got Within Hours of Collapse (Bloomberg) “Two of our major banks which had had difficulty in obtaining funding could raise money only for one week then only for one day, and then on that Monday and Tuesday it was not possible even for those two banks really to be confident they could get to the end of the day.” –Bank of England Governor Mervyn King
• G-20 to Curb Bank Pay, Coordinate More as Crisis Ebbs (Bloomberg)
• A Tale of Two Bailouts: It’s not the best of times for housing. (Newsweek)
• Marc Faber Takes on Krugman (Real Time Economics)
• Is Twitter Worth a Billion Bucks? (BusinessWeek)
• The Biggest Government Bailout Is Yet To Come. Itself. (Slate)
• Why China must do more to rebalance its economy (FT)
• A System Breeding More Waste (NYT)
And this one looks especially important:
• Nadir Of Western Civilization To Be Reached This Friday At 3:32 P.M. (The Onion)
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