The Daily Dig for Thursday, May 1

goldToday’s Daily Dig tells you how you can become an NBA owner, congratulates the Brits on an important milestone, and gives examples 998,012 – 998,014 why we should be cautious when we hear the phrase “trust us, it won’t happen again.”

The Crowdfunded Clippers?

In the wake of the Donald Sterling mess, several big names have a reported interest in buying the team.  “Why,” asks several people who have started crowdfunding campaigns to buy the team, “can’t we get a crack too?”  Samantha Kelly looks at some of the campaigns.

(Bonus BT tip: if you buy in, watch what you say on the phone.)

History says take assurances another meltdown won’t happen with a grain of salt

Irish taxpayers have paid a whopping bill for bank misdeeds leading up to and during the crisis.  Many feel the cries from legislators that “This will not happen again!” ring hollow when looked at through the lens of history, says John Walsh.

Serious questions raised by B of A’s accounting boo-boo

Bank of America’s recent $4 billion accounting error raises serious questions about big banks ability to generate accurate data on their own products and vulnerability, the quality of their “living wills” and the ability of federal institutions, who rely significantly on banks own data, to police them.  Mayra Rodriguez Valladares with analysis.

Hoenig questions values of stress tests, says actual exams much better

FDIC Vice-Chairman Thomas Hoenig sees plenty wrong with bank stress tests.  Everyone would be better served if the big banks were scrutinized as closely as their smaller brethren, he tells Emily Stephenson.

“Thanks a billion” says UK P2P body

United Kingdom P2P activity exceeded the billion-pound mark in the first quarter, another sign of the method’s growing credibility, writes Jason McGee-Abe.

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