Good stuff from the NY Times this Sunday illustrating how fucked we are. KP friend Michael Lewis co-authors a two-part op-ed with David Einhorn, a hedge fund manager (not sure why it's two articles). Joe Nocera has a lengthy article for the magazine on Value-at-Risk (VaR) and its role in the financial crisis; KP friend Nassim Nicholas Taleb--the Black Swan guy--is prominently featured as both a VaR critic and an asshole. Nobel Laureate Paul Krugman says Obama's fiscal stimulus package must be big and quick to prevent "Great Depression II." Lastly, the Business section gives a good overview of the commercial real estate market's growing vacancy problem and its effect on the viability of both large national banks and smaller regional banks. Happy New Year!