Easy Street is Marketplace’s daily roundup of the most interesting news stories and commentary about Wall Street, Washington and the curious world of finance.
Top Story: AIG
Today in ‘”wow, that’s kind of nervy”: AIG is suing banks for selling the firm toxic mortgage-backed securities. These are, by the way, probably some of the same securities that AIG just tried to buy back from the Fed, arguing that they were crucial to the firm’s plan to achieve profitability once more. The trial should be really something. “So, AIG, do you remember where you were on the nights of 2005 to 2008?”
Banks
Self-improvement: Banks are rushing to improve their foreclosure practices. What, just because of some lawsuits and massive allegations of fraud? What’s the big hurry?
Investing
Soul-searching: Warren Buffett needs to apologize to the most important man of all: the one in the mirror.
Bubbles
Fed postgame: How did Bernanke do yesterday?
Art: Spring auctions are almost upon us, and deep-pocketed investors seem set to bid up Picassos to record highs again.
Monarchy Inc.: The Royal Wedding may be, instead of Peak Oil, Peak Monarchy. The Journal takes a look at the business of maintaining an outdated, irrelevant and expensive centuries-old institution. Not that we’re biased.
Related: The Wall Street Journal has a handy guide to the royal wedding.
Recreational Reading
Econorap: This new musical genre is boosted by an absolutely entertaining video about Keynes and Hayek.
Related: The creator of the video talked with Marketplace’s Kai Ryssdal.
Fish out of water comedies: Athletes on a trading floor. Better than Mork or Cousin Balki for sheer hilarity. (hat tip to Dealbreaker)
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