links for 12/2/07

• Good and lengthy discussion on how we arrived at the current environment including comments on how commercial paper fits into the subprime story. Part 1 – Part 2 – Part 3 – Part 4 – Part 5
• Unseen China – a documentary about the losers of China’s new economy. Almost an hour in length, with the first half focusing on the laid off workers of a former state-owned factory in Zhengzhou. Some of the stories, such as the police hiring thugs to punish protest organizers are so reminiscent of the early days of protest organization in the US. Some parts were just so pathetic that it felt very uncomfortable to watch. And the second half features Beijing families evicted from their homes to make way for Olympics-related construction. One such man took their case to court and was told by the judge even though his case was legally correct, the judge’s superior had ordered all such cases to be ruled against the little guy. What corruption!