Michael Lews on the Villain at AIG

Michael Lewis joins the Zero Hedge choir, takes on Joe Cassano: The Man Who Crashed the World

Other weekend reading:

More on StevePerkinsGate: PVM taking a page from the oldest playbook in the world (FT)

 

India joins China, Russia in questioning USD dominance (Bloomberg)

 

Palin to resign as Alaska governor, will not seek reelection (WSJ) [not even worth discussing the Republican due diligence process]

 

 Ignoring prophetic predictors (Nader)

 

Staffer at SEC had warned of Madoff (WaPo, h/t dartmont)

 

Recovering ABS may relapse if TALF support pulled (Reuters)

 

Arnold's IOUs will pay 3.75% (Bloomberg) which Bank of America can't wait to launder with taxpayer money (PR)

 

China needs domestic consumption for economic recovery (Bloomberg), in other words a US-style credit bubble, combined with compelte fake economic data, can only go so far.

 

The Taleb - Tavakoli vendetta post-it update (Alphaville)

 

Banks own the US government (Guardian)

 

North Korea fires five more missiles (Bloomberg)

 

New York city sees slide in tourism (WSJ)