Some links thanks to Dave…
- The moral of the story is do away with pensions. 401(k)s are less expensive and give people the opportunity to manage money to fit their risk tolerance, and upon retirement to move that money to an IRA and manage it however they want. The argument about bondholders being diversified and former employees not is dead-on but not in the way he meant it – there is no reason anyone should be solely dependent on any one company (also see Enron – about time we learn from this).
- Mean Street: the new conflict of interest in GM
- GM/Chrysler checks and balances on the bailouts. When you need checks and balances you obviously need Ralph Nader (who now lists his title as “consumer advocate”).
- Treasurys and mortgage rates on the up…not good for housing problems.
- Felix one-liner on Treasurys – looks at the moves in the 7- and 10-year over the last two weeks
- Just when you think he’s down, Buffett’s Coke round 2?
- Still waiting for sorry from Clinton
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