Extra Credit, Monday Edition

Price % Losers: Who knew there were so many listed Fannie and Freddie equity securities?

Rising unemployment: James Hamilton crunches the numbers. "I don't see any way to slice today's report other than to say, at least as far as the employment numbers are concerned, the U.S. is now definitely in a recession."

No Longer Preferred: A Lesson From Paulson: "Too often investors view preferred stock as debt by another name."

Islamic Bond Decree Cripples Sukuk, Imperils Projects: Islamic bonds were meant to be the next big thing. But they're not, any more.

Large, friendly letters: "The NYSE boasts that "the six massive Corinthian columns across [our] Broad Street façade impart a feeling of substance and stability and, to many, it seems the very embodiment of the nation’s growth and prosperity". Perhaps NASDAQ should consider adding to its website, in large, friendly letters, the words 'DON'T PANIC'."

The U.S. Equity Premium: Past, Present, and Future: Brad DeLong says it exists, and it's big.

Europe travels - monetary economics: Why Europe, the UK, and the US should all abolish their pennies.

Quote of the day: SPR edition: The emergency stockpile? Can't operate in an emergency. Reminds me a bit of how NYC put its emergency response center high up in a downtown skyscraper.

Equal Before Mammon: Surowiecki on equal pay for equal work.

Halsey Minor’s Art Market Adventures: "Anyone knowledgeable about this time period who works in the art market knows that I was very naive about how business is conducted and as a result lost a lot of money," he says in the comments. Clearly, he didn't learn any lessons.

The Starbucks Egg Sandwich Double-Cross: Remember when Howard Schultz said he was killing off the egg sandwich? Turns out he was actually deciding "to make improvements to the recipe to address the aroma and quality concerns".

Investment Calculator – Should You Sell Before New Capital Gains Rate Increases Occur? Input future capital gains tax rates and expected investment returns, this'll tell you whether you should sell now or hold. But given the amount of uncertainty in both those variables, it's probably of limited utility.

A Disastrous Mayor: "When Palin took over Wasilla, the town had no long-term debt. By the time she was done, debt service had increased by 69 percent, the town had close to $19 million in long-term debt, making the debt around $3000 per capita. And the Mccain campaign is asking us - seriously - to consider her a fiscal conservative."

And finally, I'd urge any readers who live in lower Manhattan to vote early and often tomorrow for Paul Newell. If Shelly Silver is kicked out, drinks are on me: I promise!