What Are We Reading?

Another View At Goldman's Trading Perfection And Statistical Improbabilities (Zerohedge) - When a firm's trading performance challenges not only all preconceptions of realistic trading, but also of statistical distributions, one can merely stand back and watch in awe. Can the SEC please dissolve itself already and save taxpayers at least a little money?

The Welfare State Corrupts Absolutely (Campaign For Liberty) - Great article demonstrating how welfare and social programs corrupt our government and keep the American people in a state of ignorance to the problem. Must read!

The Coming Collapse of the Municipal Bond Market (Phillip Greenspun) - Think your 401(k) is the only thing suffering in this economy? Think again. Barring some sort of miraculous boom in the economy and pension fund investment returns, state and local governments are headed for insolvency and default.

Trouble Ahead: Can The Right Seize the Banking Reform Issue in 2010? (Naked Capitalism) - Elliott Spitzer explains how the White House defense of the status quo will give republicans powerful ammunition in the 2010 elections.

King Report: Political Bombshells (BP) - A political bombshell exploded in the US last night. While the largest impact is on Democrats, there were clear warning shots fired at GOP nabobs. Tuesday’s results are a clear refutation of big government, big spending, big borrowing, TARP, crony-capitalist bailouts, more socialism, etc.

FHA Delays Fiscal Report (Calculated Risk) - "In an environment like we're in today, you need to look at a number of different economic scenarios and in the process of doing that, we needed to track down some potential issues." The concern is that some of the "different economic scenarios" showed the FHA would require a significant taxpayer bailout.