This is The Sausage's daily look at what the people who actually know what they're talking about blogged today. You can see the introductory post here.

Brad DeLong
Brad DeLong posted a list of links for the day and left it at that.

Paul Krugman
Krugman took the day off. Again. Memorial Day was last week, Krugy. The weekend didn’t last through Tuesday then and it doesn’t now. Pick it up!

Felix Salmon
Felix Salmon, on the other hand, was quite active. First up, a smaller post on how “debtor-in-possession financing” is better than a GM liquidation. Reorganization under bankruptcy? Good, says Salmon. Then we get a chilling look at just how bad advertising can be—even when a company is under the gun, like GM (GM) is. And then? More GM! GM and in the interest-rate swaps market in an explainer-y style post, to be precise. Salmon ends on a subdued note, with a seemingly unremarkable sound bite he’s curiously dubbed the “quote of the day.”

Barry Ritholtz
Ritholtz kicked off the day with his comprehensive list of questions on (read: demands for) the upcoming overhaul of the financial regulatory system, then suggested that the housing market may be stabilizing. Midmorning, he plugged the econowonk’s wet dream of a conference that he’s hosting tomorrow. Later, he expanded on his standing diagnosis that “superbanks” are too bloated to function, pointing toward the two-decade-long habit of firms cannibalizing one another as the cause of their present indigestion.