The Olympics may still be in the spotlight, but behind the scenes, trouble is a-brewin’. The ongoing Libor scandal was bad enough, but when the New York State Department of Financial Services goes over the heads of the highest regulators in the land, you better believe heads are rolling. Combine these developments with the continued PFGBest scandal, additional Federal Reserve rumblings on QE3, the never-ending upward-bound and totally irrational trajectory of stocks, plus a ramp up in U.S. political warfare, and you’ve got the scene set for quite a lot of drama. As we head into the weekend, hoping that the break to cooler weather in Chicago will signal a break to more sane developments next week, here’s what we’re reading:
- Lawsky’s strong arming with SCB could push the Feds to actually do their job (Huffington Post)
- The Best and Worst Performing Investments of the Last 5 Years [Hey- where’s managed futures?!] (The Atlantic)
- Perhaps the reason for the debt overload has to do with judgment like this? (Voice of San Diego)
- Ritholtz breaks down the “Stocks for the Long Run” Fallacy (Ritholtz)
- Interesting Crude Commentary from the CME (CMEGroup)
For fun…
- What would you say to the man who invented the computer? (Blog of Impossible Things)
- Olympians school the former first daughter on how to dougie (Buzzfeed)