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Fatster’s Roundup

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Here is your news:

International Developments

? Widespread claims of voting irregularities in Egypt; Muslim Brotherhood claims 56% voted to ok the new constitution; others demand a repeat of the vote; 120,000 troops sent to polling places.

? Egypt has reportedly evacuated 4,000 of its citizens from Syria.

? Some members of the Syrian opposition are claiming the US “and other Western nations” were backing training 100s of them in Jordan “as far back as October”. The training expanded, according to the sources, from light weapons to anti-tank weapons and anti-aircraft missiles.

? “What It Looks Like When a Jet Drops a Bomb on Your Town”.

? In 2014, both Catalonians and Scots will be voting to express their preferences on independence. And similar sentiment appears to be growing in the Basque country of Spain, too.

International Finance

? Greece is severely criticized for its social expenditures, yet it spends 23.1% of the GDP for social services compared to 24% in the entire eurozone (France spends 32%). Since 21.4% of Greeks are in poverty, Greece should not be “prioritizing the payment of foreign debt at the expense of the well-being of the Greek people.” Ultimate issue: “we know well who is paying for the crisis”, but “who gains?” Unilever is the example used in answer.

? “The Price of ‘Collective Trauma’: Greece At The Brink of Civil War“?

? Bankers’ bonuses in the eurozone may be capped “at two times fixed salary”, though final agreement is not assured.

Money Matters USA

? IL Democratic Sen Dick Durbin: “How can ‘certainty of hopelessness’ be the standard for [student loan] borrowers to obtain any relief in bankruptcy court. This harkens back to the debtors prisons of Europe and England.” Durbin’s bill for student loan bankruptcy, btw, “would once again permit private student loans to be discharged in bankruptcy as they were before 2005.” [cont’d.]

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David Dayen

David Dayen