peHUB Second Opinion 5.11.10

Yes, Prime Minister: Gordon Brown (a “moon-howler” according to Tatler) is out and David Cameron (“good at drowning kittens,” Tatler again) is in as the youngest prime minister since Lord Liverpool in 1812.

Privatizing jails: Private equity has gotten involved with worse criminals before.

Fed stops MBS buying program: Sun continues to rise in the East. Related: Only $74.7 billion left to go to complete the mortgage-modification program.

Flash Crash hearings: A thorough live-blog of the proceedings; don’t forget to spare some time to speculate on the heretofore undiscussed role of space aliens.

Total amount of aid to Fannie Mae and Freddie Mac: Your guess is as good as the government’s. Hey, money is fungible, right?

Computers: They will always be smarter than the SEC, says the SEC. Related: Jon Stewart (brother of NYSE executive Larry Leibowitz) with some comic relief.

Be the Hyena: Bess Levin with more on the management principles over at Bridgewater Associates.