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Friday, May 18, 2012

Monetary

News                                                                                                                             
WSJ | Experts Try to Chart Path for Exit From Currency
Returning to a national currency after more than a decade of using the euro and having its money managed by the European Central Bank would catapult Greece into a financial, legal and political no man's land.

Econ Comments & Analysis                                                                                            
WSJ | Pledge Week at the Fed
The ire over a trading stumble at J.P. Morgan shows how little taxpayers enjoy standing behind too-big-to-fail institutions. Remarkably, the same Federal Reserve that didn't blow the whistle on J.P. Morgan's "whale" trades is planning to make more such institutions.
Real Clear Markets | Overrated Central Banks Seal Our Depression Fate
The impulse to compare current events to previous events is a part of human nature. Indeed, most of our groping obsession with predicting future events is based in the past, particularly a search for patterns.