What We Read Today 09 July 2014

Econintersect: Every day our editors collect the most interesting things they find from around the internet and present a summary “reading list” which will include very brief summaries of why each item has gotten our attention. Suggestions from readers for “reading list” items are gratefully reviewed, although sometimes space limits the number included.

• Citi to pay $7bn to resolve US probe (Kara Scannell, Financial Times) Last week Barclays agreed to an $8 billion settlement for money laundering in violation of international sanctions, this week sees another $7 billion settlement for MBS (mortgage backed securities fraud. Remember when a billion dollars was real money? Last year JPMorgan settled MBS fraud charges fro $13 billion. The biggest fish in the MBS swim, Bank of America, has yet to settle. The relatively smaller player, Citi Group settling for much more than had been expected coud push the anti up for B of A, to something well above JPMorgan’s $13 billion.

• Climate sceptics are losing their grip (Martin Wolf, Financial Times) Wolf is very pessimistic about the prospects for averting major problems. He says: “Our current path is likely to cause irreversible and costly damage.”

• Almost anyone can hitchhike into space with a nanosatellite (Ross Burgon, The Conversation) If you can qualify as an educational project you can have your satellite placed in orbit for £5,000.

• Job Openings Rise to 7-Year High, but Hiring Notches Scant Gains (Josh Zumbrun, The Wall Street Journal) There is more on this topic ‘behind the wall’ and a complete detailed analysis at GEI Analysis.

There are 8 articles discussed today ‘behind the wall’.

The first two articles discuss the effects of QE on the economy, followed by a ‘mini-article’ by Econintersect that suggests the debate of the two articles is missing a larger point.

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