Morning Links: Kenneth Lay Wins One For The Team

kenny lay e1314714662422 Morning Links: Kenneth Lay Wins One For The Team

Enron CEO Kenneth Lay: still dead.

This morning: Warren Buffett continues to occupy his mealy shell of a body, Steve Jobs needs an app for caring about strangers, Kenneth Lay wins one against the government, DefCon is not for rappers, home prices made a move, and if Mexican Folk Singers can’t save Las Vegas, nothing can. Our first Wall Street links roundup is right here. Vaya con dios:

  • Oracle of Omaha and Bank of America’s favorite Captial Requirements Savior That They Supposedly Didn’t Need, yes, Warren Buffett turns 81 today! To celebrate, the Wall Street Journal ran a picture of him eating ice cream like the mealy-mouthed old man he is. We have something better coming shortly. It is not a new bathtub. [MarketBeat]
  • Steve Jobs: mediocre philanthropist. Seeing as how he thinks iPhones are a gift from god, basically, this is not entirely surprising. [DealBook]
  • Dead Enron CEO Kenneth Lay emerged victorious in court after the IRS went to battle with his estate over the $10 M. in annuities he sold to become CEO of Enron. Great deal. Too bad he can’t take pleasure from beating the IRS in court. Because he’s dead, is why. [Bloomberg]
  • DefCon is neither a record label for recently-paroled rappers or a measurement of how many missiles American Forces fired at civilians today. DefCon, the conference for the newly-regulated derivatives market, is a nerd-party for the few people excited about derivatives regulation. They have a cool name. [DealBook]
  • Case-Shiller report released, (seasonally adjusted) home prices are up 3.6% for the second quarter of 2011 after being down 4.1% in the first quarter. Get in on this emerging market while you still can. [Calculated Risk]
  • Congratulations, Class of 2011: your prospects of employment at a job you will despise yourself for taking are marginally better than the Class of 2010. [Bloomberg BusinessWeek]
  • From 2009 to 2011, big banks basically rid themselves of “free checking accounts” after the Durbin Amendment came along to highlight what anybody with warm blood saw plainly: free checking is a great way for banks to make money from your broke ass. But did the Durbin Amendment make everything terrible for checking accounts? No. Which is why Felix Salmon is owed $100. [Reuters/Felix Salmon]
  • Consumer Confidence? Sucks. [Reuters]
  • UBS sees gold going to $1950 within the month because gold bugs are “buying the dip” gold took last week. When Slurpees go on sale, you buy more Slurpees. Even if you’re a diabetic. [Zero Hedge]
  • Alladin Capital’s chief economist and Observer Power 100 Hot Economist Ladies nominee Constance Hunter thinks Europe needs a “cathartic event” to force policy makers into action that would speed the Euro’s recovery. Options: European bank failures, Germans electing politicians who oppose helping out their neighboring countries, and the ECB declining to extend credit through the purchase of country bonds. Not listed as an option: David Hasselhoff’s death. Just saying. [FIN]
  • The National Labor Relations Board outgoing chairwoman Wilma B. Liebman thinks Republicans are essentially going to dismantle the NLRB because Republicans hate unions. She’s right. Also, this is the second time a woman leaving a high-ranking government economics policy position aired out her grievances to the New York Times this summer (the FDIC’s Sheila Bair all but put Geitner on blast on her way out in June). One more and it’s a trend. [NYT]
  • At Primm, Nevada on the state line between Nevada and California are a bunch of casinos, a factory outlet mall, and what was once the world’s tallest roller coaster. It is awesome. Either way, casinos in Primm, Nevada figured out a new group of people to exploit: Mexicans addicted to Mexican Folks Singers. $1,000 and you’re a high roller. [NYT]

 

fkamer@observer.com | @weareyourfek