Disney Nabs Marvel Heroes (WSJ)

The L.A. Times, in its very first paragraph of a hometown big-news story, calls Disney's conquest of Marvel's superheroes a "reinvention" — no wonder that readers are flocking away from dull daily newspapers. Much better, as usual, is the Wall Street Journal's take: "By bringing in macho types such as Iron Man, Thor and Captain America, the Marvel deal would expand Disney's audience, adding properties that appeal to boys from their preteen years into young adulthood. That demographic group hasn't been swept up by Disney's recent hot properties, such as High School Musical and the Jonas Brothers." Marvel becomes a Mickey Mouse operation as Disney tries to jump-start flagging DVD sales. The film industry is in deep trouble from all sorts of Web-based diversions, and the WSJ sees more consolidation in Hollywood. Meanwhile, Disney's Bob Iger sounds like a pedophile: "We view this as an opportunity to attract more boys and older kids." The Big Money's Chadwick Matlin spoofs "Exclusive Disney-Marvel Synergy Memo." Click on video above (or here) for Disney's subliminal messages.

The Systemic Threat Posed by Megabanks (Felix Salmon, Reuters)

Riffing on David Cho's scary story last weekend in the Washington Post, "Banks 'Too Big to Fail' Have Grown Even Bigger," Salmon urges that someone has to force Wells Fargo, JP Morgan Chase, and BofA "to start shrinking today."

Take the 'L' Out of LBO (Reuters, Matthew Goldstein)

"In a perfect world, we would simply ban leveraged buyouts. The vast majority of these debt-laden corporate takeovers are no less predatory and value-destroying to a company than a loan shark who charges usurious rates of interest." However, it's an imperfect world, so why not force private equity buyers "to pony up at least 50 percent of the purchase price"?

Is a Crash Impending? (Seeking Alpha, Karl Denninger)

Sounding like Jeremiah, Denninger warns that "the market is currently being levitated on literal trash."

TARP Repayments: Media Continues to Trumpet Unjustified Positive Economic Spin (Seeking Alpha, Kid Dynamite)

Puts the lie to current spin. With links. Behind all this is that sharks are using corporate welfare to churn shitty banks, and that's not going to accomplish anything but profits for individual sharks. His conclusion: "Recognize bad debt instead of continuing to pretend it will work itself out eventually. Stop funding insolvent institutions and use those funds to seed new, healthy banks instead."

MORE HEADLINES FOLLOW

Auditing the Fed Is Economic Suicide (Seeking Alpha, Henry Bee)

More doomsaying: "The free market understands that auditing the fed is a very dangerous line to cross. If crossed, U.S. inflation will likely skyrocket over the next decade to unseen levels. U.S. economy tanks. Bond investors lose money as interest rates rise. Stock investors earn negative real return as equity risk premium rises and aggregate PE ratio tank. The US Dollar erodes due to higher domestic inflation relative to foreign inflation. Gold and commodity prices rise."

Mormons Become Victims in $50 Million Scam to Sell Gold Bullion (Bloomberg)

Mormons and born-agains were actually duped by an outfit called Tri Energy into praying during nightly conference calls. "While their scam was puny compared with Madoff's, which netted him 150 years in prison, it had much in common with the largest Ponzi scheme in history and other so-called affinity frauds." Scheme's technique similar to Nigerian spam e-mail.

IRS to Mine Payment Data on Mortgages (WSJ)

IRS will expand this "compliance initiative project" nationwide by December 2011. Even a GOP congressman points out that, as the WSJ says, "the IRS plan could snare taxpayers who have coped with job losses by borrowing or using savings or retirement accounts to make their house payments."

Pension Advisers for G.M. Are Part of Pay Czar's Review (NYT)

Clunkers and August Auto Sales (Calculated Risk)

Good roundup of the wildly varying estimates. Also see a collection of graphs on real estate, etc.

BLANKFEIN TOPS VANITY FAIR POWER LIST (NY Post)

Speaking of corporate moral hazards. See "The New Establishment." Goldman's CEO is followed by Steve Jobs, Jeff Bezos, and Warren Buffett. LeBron James is No. 99.

Euro-Zone Unemployment Hit 10-Year High in July (NYT)

Embracing Google Ad Manager, Reluctantly: Can all these services remain free forever? It's hard to believe. (Big Money, Jonathan Weber)

What Banks Are Really Doing With Foreclosures (CNBC, Diana Olick)

Details, details, details.

Tobacco Firms Sue to Block Marketing Law (NYT)

For Magazines, the Down Days Continue (NYT)

New Targets in the Fat Fight: Soda and Juice (NYT)

Tobacco Firms Sue to Block Marketing Law (NYT)

Free-speech argument by Joe Camel in support of a legal product. Government's new rules would prohibit many sponsorships and "would ban color ads in People magazine, Sports Illustrated, and ESPN the Magazine, even though they appeal mostly to adults."

AIG CEO Explains What He Has That Makes Women Go Wild (Big Money, Adam Tanner)