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Here's what we're following this morning:
Should hedge funds be more open? - VoxEU | What does it matter when all of them are 2-and-20 shops for AAPL?
Do you have a mortgage with Wells Fargo that is in default? If so, you're probably getting fleeced. - Naked Capitalism | "...[a]nd the Federal government and state attorneys general are certain to have emboldened Wells...by rewarding them rather than treating them like the criminals they are." Wait, a Buffett holding is engaging in reprehensible practices?
Chinese rogue trader sentenced to death - Dealbreaker
Taxation without representation - Counterpunch | Unfortunately, we're all becoming illegal in one fashion or another.
Rousseff seeks US support in "currency war" - Financial Times | Our number one export? Inflation and currency debasement.
Why some states do better than others - Mother Jones | I'm not sure that any state is going to have much money to throw towards "broad-based infrastructure" if we continue to see the lackluster job growth (and its corollary, plummeting tax receipts). Know why some states do better than others? The lack of a confiscatory tax structure and support for small businesses.
Karzai orders inquiry in Kabul Bank's losses - New York Times | Karzai is ordering that hundreds of millions of dollars in outstanding loans be repaid in two months? Has he never heard of TARP, HAMP, LTRO, or QE? This doesn't have to be resolved in 60 days, sir.
Why does the IRS receive 50% of Obamacare's implementation dollars? - Washington Post | The entire fund will be drained by HHS by September...BEFORE the election.
A new form of guaranteed pensions for UK workers - The Telegraph | Prepare to hear more and more on the subject of "measures of certainty."
Gas prices will rise due to increased distribution costs - The Guardian | QUICK! Someone tell our politicians that it's not the greedy speculators any more -- it really is supply and demand AS WELL AS the costs of moving said product from A to B.
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