February 19

“All you need to know to navigate today’s economic debate.”

Time to Throw Some Water on The Deficit Hysteria Fire (EconomicPerspectives)
Braintruster Randall Wray sheds some light on budget deficit hysteria.

Greece Inches Back (NYT)
After weeks of denial, the European Union has begun grappling with Greece’s debt crisis and the dangers it poses for the 15 other nations using the euro.

Greece Should Approach The IMF (BaselineScenario)
Simon Johnson argues that approaching the IMF about a loan is a smart move for Greece.

‘Who Pays Wins’ as Merrill, UBS Lure Bankers With Pay Increases (Bloomberg)
Bank of America Corp. and UBS AG, which eliminated jobs over the past two years as they received government aid, are luring bankers in London from competitors by as much as doubling base salaries.

Obama to Post Health Plan as Sebelius Renews Attack on Insurers (Bloomberg)
President Barack Obama is preparing to release a proposal to restart the health-care debate before a White House meeting next week.

Obama to Unveil Additional Homeowner Aid (WSJ)
President Barack Obama is expected to announce plans Friday to provide an additional $1.5 billion to a state-assistance program for homeowners worst hit by the downturn in U.S. housing values.

Rate Rise Stirs Questions (WSJ)
Fed raises cost of emergency loans to banks, spurring talk of tighter credit.

Credit Card Fee Blitz Escalates (MotherJones)
On Monday, the second phase of the Credit Card Accountability Responsibility and Disclosure Act of 2009 goes into effect.