“The strength of this market—or at least the Fed’s liquidity beneath it—deserves the benefit of the doubt.”

Video.

Don’t fall out of your chair – the deluded ping pong champ Greg Smith, who thinks Goldman’s culture “changed” over the last 12 years, was shopping his book proposal around to publishers in NYC this week.

Chart.

How this hasn’t led to an uptick in domestic violence/suicide I’ll never know…

He is so completely fucked if this breaking news turns out to be true… From Bloomberg: Jon S. Corzine, MF Global Holding Ltd. (MFGLQ)’s chief executive officer, gave “direct instructions” to transfer $200 million from a customer fund account to meet an overdraft in one of the brokerage’s JPMorgan Chase & Co. (JPM) accounts in…

Joe Weisenthal on FRED

The Internal Revenue Service in 2011 audited 29.93 percent of taxpayers who reported more than $10 million of income, up from an audit rate of 18.38 percent in 2010