StreetInsider.com Best of the Web:

• Some banks are in such bad shape that buyers won’t touch them at any price, even if the government agrees to eat losses on the failed bank’s bad loans. “People’s United Financial Inc. wanted to buy failed banks on the cheap. Instead, it struck a deal to buy a healthy equipment-leasing company.”


• Risky market bets by past Harvard officials, including now Obama’s chief economist Larry Summers, cost the university $1.8 billion and the university is still paying the price. Mohamed El-Erian “was having a heart attack” upon taking over Harvard’s endowment, said one