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    Daily Digest – July 27

    by Davos

    Monday, July 27, 2009, 2:51 PM

  • Congressman Grayson Interview (Audio)
  • Six Georgia Bank Failures, US Tally 64 for 2009
  • Hugh Hendry: China – The Emperor has no clothes (Video on page)
  • Uncle Buck (Chart)
  • Cash for Trash, Transparency & Accounting (Video)
  • High Frequency Trading (Video)
  • "Obscure" Websites Now Have the Best Info (White Paper)
  • The 2000s depression in one picture (Chart, H/T Russel)
  • A Tale of Two Depressions (H/T Russel)
  • British economic collapse rivals Great Depression (H/T Russel)

Economy

Congressman Grayson Interview (Audio)

6 Georgia Bank Failures, US Tally 64 for 2009

State Bank and Trust Company, Pinehurst, Georgia, Assumes All of the Deposits of the Six Bank Subsidiaries of Security Bank Corporation, Macon, Georgia

Hugh Hendry: China – The Emperor has no clothes (Video on page)

Uncle Buck (Chart)

Cash for Trash, Transparency & Accounting (Video)

High Frequency Trading (Video)

Getting a look at orders before someone else does is commonly called "cheating". The National Market System (NMS) was supposed to prevent that; this was the so-called "innovation" of Nasdaq, remember? No specialists, no balancing of orders to open a stock, all done by computer. Equality of access. Up until it became profitable to make some people more equal. The intent of a public stock exchange is to insure equality of access to information so that the markets are orderly, not rigged.

"Obscure" Websites Now Have the Best Info (White Paper)

The 2000s depression in one picture (Chart, H/T Russel)

A Tale of Two Depressions (H/T Russel, Charts, Repost)

British economic collapse rivals Great Depression (H/T Russel)

"The financial crisis has been much bigger [than in the 1930s], the period of boom beforehand was more marked; and so you might think it’s thanks to the policies [from the Bank of England and Government] that we’ll end up with something slightly less bad but along similar lines."

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