18-March-09: Meanwhile ..

Catching up on the update meanwhile ..

1. Outrage in US over AIG – Benranke called it most upsetting event in the crisis, outrage on AIG bonuses.
The real question is, who is actually being bailed out by bailing out AIG? Essentially the counter-parties. The details are here from Econobrowser.

2. Jon Stewart vs. Jim Cramer extended showdown here

3. UK embarked upon QE – to purchase long-term Gilts among other measures

4.The account of Global Stimulus efforts by Dani Rodrik

5.Martin Wolf makes a case for affordability of indebtedness

6. Falling JPY and CHF..battle for safe haven currency over? Gold keeps spiking in between, but 1000 us$ is strong resistance

7. S&P rebounded at 666, cound be intermediate bottom.