- As expected, today’s decision by the G20 group of economic powers did not do much to fix the problem of global trade imbalances. [NYT]
- OneWest, a Frankenstein bank made of the sewn-together appendages of massive credit-crisis failure IndyMac, has bought a $1.4 billion real-estate loan portfolio from Citigroup. [WSJ]
- The Shanghai Composite Index dropped 5.2 percent — which is a lot — on fears of rising interest rates. [MarketWatch]
- At least one person thinks the May 6 Flash Crash marks occasion to reconsider the role finance plays in the U.S. economic ecosystem. [Bloomberg]
- The Federal Reserve is getting ready to tell banks how much they’re allowed to raise dividends paid to stockholders. Because in America, a government institution tells the financial sector how to conduct its affairs. [Reuters]
mtaylor [at] observer.com | @mbrookstaylor
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