Gridlock Has Cost U.S. Billions, and the Meter Is Still Running
New York Times
Damage to growth, employment and interest rates has already been extensive, economists say, even without a debt default and a continuation of the government shutdown.
shared by @Alea_, @counterparties, @iSharesETFs, @TMFHousel
 

Want a Piece of a Star Athlete? Now, You Really Can Buy One.
New York Times
Fantex Holdings, a start-up backed by prominent investors, is creating stocks tied to the value and performance of an athlete’s brand. First up: Arian Foster of the Houston Texans.
shared by @bespokeinvest, @kevinroose, @danprimack
 

The Tea Party’s Pyrrhic Victory
Bloomberg Businessweek
Antigovernment conservatives have triumphed in their crusade against spending. But success comes at a price
shared by @markgongloff, @petercoy, Huffington Post
 

The anatomy of a Shanghai land grab: Residents kidnapped, their homes destroyed
Marketplace
Local governments in China have taken the homes of at least 40 million people, selling that land to developers, in order to keep GDP growth figures well into the black.
shared by @joshchin, @kairyssdal, @larsonchristina, @niubi, @taniabranigan
 

This fiscal fight cost the US economy $24 billion—but that’s just the beginning
Quartz
Two weeks of drama in Washington haven’t moved the policy needle, but the government shutdown and fears of a debt default have their own costs. Standard & Poors released an analysis forecasting the cost at $24 billion, or 0.6% of annualized…
shared by Incidental Economist, @Richard_Florida
 

Dimon Said to Have Given Up Role at Bank Unit After OCC Request
Bloomberg
JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon stepped down as chairman of the bank’s main operating subsidiary in July because of a recommendation by the Office of the Comptroller of the Currency, according to two people with kno…
shared by @retheauditors, @MattGoldstein26, @SimoneFoxman
 

The Government Shutdown Has Revealed Silicon Valley’s Dysfunction Fetish
New York
They don’t believe government matters, just companies.
shared by @TheStalwart, @ezraklein, @danprimack, Reformed Broker
 

The Fed is considering a capital charge for banks owning physical commodity assets
Wall Street Journal
Federal Reserve officials are considering imposing a new capital surcharge on Wall Street banks that own oil pipelines, metals warehouses and other lucrative physical commodities assets, according to people familiar with the matter.
shared by @firstadopter, NYT Dealbook, @SimoneFoxman, @JacobWolinsky
 

Billionaire Mark Cuban cleared of insider trading; blasts U.S. government
Reuters
DALLAS (Reuters) – Flamboyant billionaire Mark Cuban on Wednesday was cleared by a Texas jury of using a private tip to avoid a big loss on his 2004 sale of Internet company shares, in a stinging rebuke
shared by Business Insider, @JacobWolinsky, Reformed Broker, @moorehn
 

Stay Put, Young Man
washingtonmonthly.com
Americans used to be exceptional for how often they moved. But that once-powerful source of both efficiency and upward mobility is now in steep decline.
shared by reddit/Economics, @Noahpinion, @Richard_Florida, @ObsoleteDogma
 

Ten Takeaways from the Great G.O.P. Cave-In
New Yorker
President Obama won, but the United States lost.
shared by @TonyTassell, @TNYJohnCassidy, @TimHarford, reddit/Economics
 

Buffett Defends Dimon, Says Regulators Take Ton of Flesh
Bloomberg
Billionaire investor Warren Buffett said JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon will withstand litigation and legal probes that led his bank to take a $7.2 billion charge in the third quarter.
shared by @LaurenLaCapra, @AlephBlog, @EpicureanDeal