- This whole foreclosure crisis really makes you think, “Why is there never a Consumer Financial Protection Bureau around when you need one?” [TheStreet.com]
- The loss of value to bank companies like Wells Fargo (WFC), JPMorgan Chase (JPM), Citigroup (C) and Bank of America (BAC) totaled $49 billion over the past three days, because investors truly are concerned about the effects of the foreclosure crisis. [Bloomberg]
- Sick of all the risk inherent in trying to maximize their returns as though they were super hedge funds, many pension funds are turning away from stocks and toward bonds. [WSJ]
- AIG (AIG) is cutting off major funds from access to the initial public offering of shares in AIA, its giant Asian life insurance unit, because AIA is just so darn popular. [Reuters]
- Chicago Federal Reserve president Charles Evans says the U.S. is in a “liquidity trap,” which when you think about it should much easier to escape than a “solidity trap.” [FT]
mtaylor [at] observer.com | @mbrookstaylor
