Thursday 7atSeven: water works

Thanks for checking in with us for seven links (give or take) at 7AM Eastern.  Good luck out there.

Bank of America ($BAC), and the other too-big-to-fail banks, are a “continuing menace” to the financial system. (Bloomberg also WSJ)

Another look at Apple’s ($AAPL) huge cash hoard.  (Asymco, DF, ibid)

Be careful when journalists use all the same words to describe a bull market.  (Johnson, Science Daily)

Water as an asset class.  (FT Alphaville)

China’s manufacturing sector contracted in July.  (Bloomberg)

It seems like Europe has managed to kick the Greek can further down the road.  (FT)

Companies are once again laying off employees en masse.  (WSJ)

Why aren’t consumer spending more?  (macroblog, Real Time Economics)

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