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Your Swap or Mine?
On Friday I mentioned how an outfit called the "International Swaps and Derivatives Association" (ISDA), a DC lobby one imagines might in line for a bit of rebranding, got some text in the 2005 bankruptcy bill that put derivatives counter-parties (see AIG catastrophe) at the front of line in ...
Moving Minutes - "Make Mine Freedom" (video)
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Moving Minutes - "Make Mine Freedom" (video)
youtube.com — "Make Mine Freedom" delivers a vitally important message. Produced in 1948, at the beginning of the Cold... War, it underscores how utopian fantasies ... (more) Moving Minutes - "Make Mine Freedom" (video)
Cities’ Plans to Swap Cash for Stimulus Are Stopped
nytimes.com — The local transportation authority pulled the plug on several Los Angeles County cities’ plans to trade stimulus... money at a discounted rate. > (more) Cities’ Plans to Swap Cash for Stimulus Are Stopped
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Against Liquidity Keynes Himself Contends in Vain
Angry Bear — Robert Waldmann Two quotes about liquidity. An anonymous TPM reader it is in everyone's interest that markets be as liquid as possible. One of the factors increasing the risk of downward-spiraling markets is illiquidity - i.e., the possibility that assets may be difficult or impossible to sell when necessary either because there is no ready market or because of barriers to sale such as the lack of common standardization (and subsequent need for costly negotiation and legal review) that ISDA has helped remedy. ...

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The $410 billion spending bill before the Senate includes 9,000 earmarks — funding for specific projects inserted into the bill by lawmakers, a longtime Washington practice. Over the past few weeks, as political controversy rages over earmarks, ...