Links 6/20/09
naked capitalism —
Moody’s Joins S.& P. in Warning on California Debt DealBook. Always late to the party. The Plaza Stirs NY Times. "Few developments rode the wave of high prices in the Manhattan residential real estate the way the 181 condominium apartments at the Plaza Hotel did, and few have chilled as much in the downturn" China ministry ''regrets'' U.S. tire trade finding Reuters. You saw Yves’ coverage of Andy Xie’s article on malinvestment in commodities as the Chinese spur domestic demand. Here’s where Chinese Protectionism ...
Sunday morning links
The Mess That Greenspan Made —
TOP STORIES • Tehran clashes grow more violent - LA Times • Treasury’s Got Bill Gross on Speed Dial - NY Times • N.C., Georgia, Kansas Bank Seizures Cost $363M - Bloomberg • Moody’s Joins S.& P. in Warning on California Debt - NY Times • Obama: Proposed Agency Will Protect Consumers - Bloomberg • Small group of GM bondholders object to sale - Reuters • Q1 2009 Flow of Funds - Noland, Prudent Bear • The Coming Oil Crisis - NewsWeek MARKETS/INVESTING • Wall Street looks to ...
California Struggles Continue
EconomPic —
... subprime fiasco = high unemployment (per The Big Picture): “California continues to bleed jobs, more so than most of the rest of the country. The national unemployment rate for May was 9.4%, and only four states had higher jobless numbers than California: Michigan at 14.1%, Oregon at 12.4% and Rhode Island and South Carolina, tied at 12.1%.Housing downturn + high unemployment = loss of revenue for the state = massive budget deficit (per NY Times): The state of California is facing a multi-notch ...



