Elsewhere on Thursday,
– “We started with the Grimm Brothers’ famous fairy tale, Little Snow-White, and morphed it into a modern academic context. Thus, we dispensed with the nasty and wicked Queen, the mirror and its monopolistic position, the monarchy and the beauty contest and replaced it with gentle researchers that reached stardom in economics as Nobel Prize winners, top economists or top happiness researchers.” (Via Free Exchange)
– “Almost 70 percent of Wachovia’s borrowers choose to pay as little as possible.”
– “From lengthening the time it takes to write off troubled mortgages, to parking lousy loans in subsidiaries that don’t count toward regulatory capital levels, the creative maneuvers are perfectly legal.”
– “There are two ways that an investment bank can blow it: the Lehman way or, as seen Wednesday, the Morgan Stanley way.”
– The MS conference call.
– Career acceleration, Goldman-style.
– And yes, this one really is a rant. And a good one.
– “Charles O. Prince III just can’t seem to escape the real-estate slowdown.”
– IPO performance, post-crunch
– “Americans with at least a college degree were more than twice as likely to exercise as those with a high school diploma or less.”