Krugman on the Japan sell-off: the easing should continue until morale improves. The shareholder revolution, Russian edition. If bankruptcies are melting ice cubes, make ice cube bonds. Targeting NGDP: far better for savers than targeting inflation? Where Libor manipulation lawsuits go wrong. Making jobs in developing countries: "show them the money." US stocks withstood the earlier global rout in risk. The S&P 500 closed at 1,650.51, down 0.29 per cent, despite Thursday's 7.3 per cent slide by the Nikkei 225 (Reuters). The Dow closed down 12 points, having opened down more than 120 (Wall Street Journal). Jobs and housing data suggested the economy has held up. Weekly jobless claims dropped to 340,000, more than expected. Sales of new single-family homes rose 2.3 per cent last month (Reuters). Median and average new home prices also hit record highs as builders cut back on supply (Wall Street Journal). Three executives at SAC Capital - "considered part of the inner circle for SAC founder Steven A. Cohen" - have been subpoenaed. They include SAC's president and chief compliance officer (Wall Street Journal). Institutional Shareholder Services settled with the SEC over charges that an employee had leaked confidential data on proxy voting for almost half a decade. The proxy advisory company paid a $300,000 penalty under the settlement. The regulator alleged that the employee, who no longer works at ISS, sent information about more than 100 clients to a proxy solicitor who provided meals and sporting and concert tickets as gifts (Financial Times). Goldman will link employees" bonuses more closely with their ability to protect the bank's reputation. A three-year review of the bank's practices will also result in the creation of a committee to decide whether Goldman should sell complex products to certain investors. "We were determined not to wallow in the negativity of it all, but to harness the energy created by" recent scandals, Lloyd Blankfein, chairman and chief executive said (Financial Times). Google faces a new FTC antitrust probe, this time about display-advertising. The investigation is looking at whether the company is abusing its strength in US display ads to push other services on companies, but remains preliminary. It follows January's closure of a probe into Google's search business without the FTC taking action (Bloomberg).