Morning Roundup: Acropolypse Now

  • In case you forgot, what with all the hubbub about a foreclosure crisis here at home, Greek workers are still protesting austerity measures in ways that undermine the country’s ability to generate revenue. [AP]
  • By the way, bad news on the foreclosure front! There were 100,000 U.S. foreclosures in September, an all-time record. [Reuters]
  • Today in tearjerker headlines: “U.S. to Let Insurers Raise Fees for Sick Children.” Is there more to this story, or are the government and the insurance industry just a bunch of jerks? Come to think of it, could be both. [NYT]
  • Swiss bank UBS — which lost $4.7 billion in 2007 and eventually took more than $50 billion in writedowns related to illiquid securities — has decided that it won’t take action against its crisis-era bosses, because the real villain in all of this was “incentives.” [WSJ / Press Release]
  • Bond-trading titan PIMCO says it has sold Treasuries because it’s pretty sure another round of the Fed’s quantitative easing won’t be enough to sustain what’s been a tremendous rally in bond prices. [Bloomberg]

mtaylor@observer.com

Twitter: @mbrookstaylor

Morning Roundup: Acropolypse Now