• Seeds of its own destruction – I am not a fan of  this article, but there is relevant information about how the good times (an increased want to invest) created these times (lots of debt and instability). I don’t like the article because I think this whole “let’s talk about ideology and economics” thing is really meh. That having been said, Martin Wolf comes highly recommended by many major economists, and h/t to Ario for introducing me to him.
  • John Hempton’s radical view of banking – fta: Then he [Buffett] says the problem of American banks are not overwhelmingly toxic assets.  This is a radical view – but it is in my view correct.  The problem with the banks is that nobody will trust them and they have not been able to raise funds.  The view that this is a liquidity crisis – and not a solvency crisis – has long been a staple of the Bronte Capital blog.
  • More from Marginal Revolution, this time on bank nationalization.
  • Still more from MR, but this is a h/t to Tyler Cowen: What kind of knowledge does one need to regulate, and how does one get that knowledge? Blogs provide a hidden clue, perhaps: how far does the logic of dividing things up go?