Write-Offs: 12.05.11
$$$S&P Puts Most of Euro Zone on Watch for Downgrade [WSJ]
$$$ John Paulson is down 3% in November, 32% YTD [Reuters]
$$$ Jeremy Grantham: "I despair that this country and its government have failed to take at all seriously the most important and the most dangerous issues: depleting resources, development of a comprehensive energy policy, and, yes, global warming. Wake up dudes!" [GMO]
$$$ Michael Lewis: "Ordinary Greeks seldom harass their rich, for the simple reason that they have no idea where to find them" [Bloomberg]
$$$ Fox Business News: "If you want to be fair, why not have a Barney Frank Muppet? Though Barney Frank looks like a Muppet anyway, so that wouldn’t be much of a stretch." [NYO]
$$$ Investors are suing Yahoo over its rumored private equity deal even before it happens [AllThingsD]
$$$ MF Global employees are suing Jon Corzine over, y'know [FINS]
$$$ SEC takes our advice, tries to get out of the appearing before Judge Rakoff business [DealBook]
$$$ Worry about the shadow banking system: short version or long version [WSJ, FTAV]
$$$ Mitt Romney's favorite novel is Battlefield Earth [The Caucus]