Links 12 September 2013

Global Macro / Markets:

• Dust starts to settle on derivatives revolution – Financial Times

North America:

• The Financial Crisis Five Years Later: Response, Reform and Progress – US Treasury
• Lawyers See Lehman Recovery as Justifying $2 Billion Bankruptcy – Bloomberg
• What if a typical family spent like the federal government? It’d be a very weird family. – Washington Post
• The Volcker rule to curb bank trading was first sketched at 1½ pages but may be 900 by the time it’s finished. – Wall Street Journal
• Economists’ Open Letter in Support of Janet Yellen as the Next Federal Reserve Chair – iwpr.org

Europe:

• Debt haircut for Greece does not solve problems – bundesbank.de
• Is Europe Out of the Woods? by Barry Eichengreen – Project Syndicate
• Italian bank funding more fragile that it looks – Financial Times

Asia:

• Japan’s consumption tax as a diversion – VOX
• Changing China set to change world economy again – Reuters
• Olympics gold for Japan’s economy – The SMH

Local:

• Concern of a housing crash around corner – The AFR
• Labor leadership battle looms – The AFR
• Banks shouldn’t burn capital to repay shareholders: APRA – The AFR
• Hockey has big tax tasks ahead – The AFR
• Economy rides Abbott victory – The Australian
• Retailers tipping a strong Christmas as consumer sentiment booms – The Age

Other:

• Economists Embracing Ideas of Late Colleague Who Predicted Recession – New York Times
• On the meaning of inflation – The Economist