$$$ Clogged Credit Weighs on Fed Policy Makers [WSJ] $$$ Ex-Expert Network Consultant Pleads Guilty in Insider Case [WSJ] $$$ TCI is trying to guilt the FSA into forcing Lloyds to redeem TCI's holdings of Lloyds contingent capital bonds at above-market prices [FT] $$$ Homeowner Aid Boosts Big Banks [WSJ] $$$ World's population is 17 million tons overweight [MSNBC] $$$ Do you have plans on July 17? Do you fancy yourself a poker player? A really good poker player? Do you think you could beat David Einhorn, even if he’s working the table like it's Lehman Brothers circa 2007/2008? Do you think it would not be so awkward that the two of you could then enjoy a meal together and talk shop after which he picks up the tab? If David's not your thing, do you think you could envision yourself in the same scenario but with Bill Ackman? If you answered yes to most of the above and also consider yourself a fan of humanity, helping others and all that jazz, you should most definitely clear your schedule next Wednesday and sign up for a World Poker Tournament benefiting the Rewarding Achievement (REACH) program, which was co-founded by Bill Ackman and Whitney Tilson and gives inner-city high school students academic support and scholarships for passing AP exams. The event is taking place at Gotham Hall in New York and Einhorn (your competition) will be playing, as will Ackman and Tilson. Prizes for winners include the aforementioned meal (a lunch), with Bill, David or Seth Klarman, five nights at a “world-class private beach home in Lamu, Kenya,” a private poker lesson with 2011 WSOP bracelet winner and 2011 WPT Player of the Year, Andy Frankenberger and more. Alternatively, if you’re not one for cards but still want to help kids, you can also just register for the cocktail hour. $$$ Would you be interested in a job as a credit team director at a distressed-focused private equity firm in New York? What if I told you it's at Patriarch Partners? [DBCC, also available] $$$ Likelihood of Grexit Still 50-75%: Citi [CNBC] $$$ Alvarez Says Fed Hasn’t Seen Other JPMorgan Risk Problems [Bloomberg] $$$ Millionaire Parents Say Their Kids Are Unfit to Inherit [CNBC] $$$ New Jersey Man Allegedly Calls 911 From His Pillow Fort, Demands To Speak To Tim Tebow [DeadSpin]

$$$ Ex-UBS Traders Offered Deal by U.S. in Rate Probe [WSJ] $$$ The history of the invention of Libor [Reuters] $$$ British MPs accuse US of anti-City agenda [FT] $$$ Why investors should avoid hedge funds [Reuters / Felix Salmon] $$$ "Brazilian central bank employees staged their first work stoppage in five years today ... demanding an average pay increase of 23 percent to compensate for inflation since June 2008." [Bloomberg via Slate] $$$ Pole Vaulter Realizes It’s Not His Day As His Pole Shatters Mid-Vault [Deadspin] $$$ J.P. Morgan is looking for a Java developer to work on interest rates derivatives pricing [DBCC] $$$ Carbon Credits Gone Awry Raise Output of Harmful Gas [NYT] $$$ "I propose an expanded system of company registration under which companies would have to trade in private markets for a seasoning period, with mandatory disclosure, before they would be allowed to sell their shares to the public at large." [Harvard Law] $$$ On retail vs. institutional investors: "As for small investors vs. little guys, there’s a difference. If you have enough money that you’re investing it through brokers, I personally don’t count you as small, even if you appear small to Goldman Sachs." [Mathbabe] $$$ A Hundred Horses Are Ford’s Pride After Flipping Tainted Banks is really a Bloomberg headline [Bloomberg] $$$ Beck's next album will be released only as sheet music [McSweeney's]

$$$ FBI Launches Criminal Inquiry Into Heinz Options Trading [WSJ] $$$ Herbalife Fourth-Quarter Profit Tops Analysts’ Estimates [Bloomberg] $$$ Greenlight shows 'likelihood of success' against Apple -judge [Reuters] $$$ One problem with paying interest on excess reserves is that you pay interest on excess reserves [FT] $$$ Blavatnik hits out at ‘arrogant’ JPMorgan [FT] $$$ "I use psychoanalytic theory to argue that the malevolent object of [Occupy Wall Street's] critique is the father, who, in fulfillment of the paternal function, forces socialization upon us. The world of artificial images is culture, seen from the standpoint of alienation. Their alternative, rooted in their authenticity, with themselves as models, doesn't amount to much." [SSRN via Bainbridge] $$$ "'If you want to protect yourself get a double barrel shotgun, you don't need an AR-15,' Biden said, referring to a type of semi-assault weapon. 'You don't need an AR-15, it's harder to aim, it's harder to use...buy a shotgun. Buy a shotgun.'" [TPM] $$$ A leading hedge fund administrator is seeking a project manager / business analyst [DBCC] $$$ OfficeMax, Office Depot in Talks to Merge [WSJ] $$$ Is Linn Energy ponzi-ish? [Bronte Capital] $$$ Institutional buyers jostle for position in new infrastructure debt market [Euromoney] $$$ Multimillion Diamond Heist at Brussels Airport [WSJ] $$$ A guy wrote a book that, unlike every other book, "paints a picture of a fast-moving, high-stakes, ego-fueled market controlled by a handful of traders. The champagne flowed when profit was strong, he said, but heads rolled over a single miscalculation." [DealBook] $$$ "[W]e are very well-versed in the legend of the power breakfast, but we will enhance it with our own culture ...” [NYP]