Weekend Reading March 8

Lloyds Banking Group gives 75% stake to government, insures assets (Bloomberg)

More FHA-backed mortgages go bad without a single payment (Washington Post)

World Bank changes tune, says global economy will shrink for first time since WWII (NYT)

The inside story of Harvard's endowment meltdown (Forbes)

Like Lewis Black explaining Quantum Chromodynamics: Gretchen Morgensen voices off on CDS (again), while Ben Stein delivers yet more economic preaching.

Death of highly leveraged illiquid strategies (Pension Pulse)

How should feds deal with mortgage fraud (NYT)

Scholes joins the Morgensen choir to the dismay of the few left Platinum Grove investors (Bloomberg)

Yves Smith's musing on the Black Swan (Naked Capitalism)

The real beneficiaries of the AIG bailout (WSJ)

One fifth of Britain's GDP spent so far on bailouts (Guardian)

US unsure of how to proceed with carmakers (FT)

The extinction of Russia's oligarchs (NYT)

Chartology (via Goldman Sachs):