Write-Offs: 05.18.11
$$$ "A lot of people are willing to say China will slow down," Kynikos founder Jim Chanos said today. "The really scary thing is if you do the numbers and they cut back on construction it's not a slowdown, and they go negative real fast...The fact of the matter is if they hit the breaks really hard, the economy goes into reverse. It doesn't slow. Nobody will say that publicly because it's unbelievable. But it happens to be the way the numbers work." [CNBC]
$$$Strauss-Kahn Lawyers File Request for Court to Reconsider Denial of Bail [Bloomberg]
$$$ Glencore Prices IPO at 530 Pence a Share [WSJ]
$$$ At a Time of Needed Financial Overhaul, a Leadership Vacuum [ProPublica]
$$$ A former Diamondback Capital Management LLC portfolio manager, Anthony Scolaro, pleaded guilty to conspiracy and securities fraud in November, according to a plea agreement unsealed today in Manhattan federal court. Scolaro admitted to conspiring with Franz Tudor, a trader at New York-based Schottenfeld Group LLC, from October 2007 to sometime in 2008. [Bloomberg]
$$$ Americans Delaying Marriage as Couples Get ‘More Selective’ [Bloomberg]
$$$ Despite End of Easing, Fed Won't Be Going Away Soon [CNBC]
$$$Secret Service Official Twitter Account Bashes Fox News [Gawker]
$$$ "Arnold Schwarzenegger’s admission that he fathered a child out of wedlock may dim the political influence of the former California governor. His return to the movie business is unlikely to suffer." [Bloomberg]
