Thursday morning links

TOP STORIES
Regulators adopt new credit card rules - AP
Trade-Protection Threat in China, Russia, U.S. Imperils Rebound - Bloomberg
End of the Hedge Fund? - Washington Post
California Cuts Off $3.8 Billion Funding Over Budget - Bloomberg
Madoff Scandal Shaking Real Estate Industry - NY Times
On Wall Street, Bonuses, Not Profits, Were Real - NY Times
Dollar faces correction, but could head up in 2009 - MarketWatch
“The Biggest Bubble Of All . . . U.S. Government Debt” - George Washington Blog

MARKETS/INVESTING
As the Fed Flattens Rates, the Dollar Gets Bruised - NY Times
Nervy investors spur rush at Swiss gold refiners - Reuters
Trade Watch: Further Confirmation of Slowdown in Container Shipments - Naked Capitalism
Blackouts and Cascading Failures of the Global Markets - Scientific American
2008's star newsletter profits from the stars - MarketWatch

ECONOMY
New jobless claims drop more than expected - AP
The Inflation Factor - The Big Picture
Chrysler shuts down all production - CNN/Money
Obama May Seek a Stimulus Plan Exceeding $850 Billion - Bloomberg
3 companies announce 4,900 job cuts as recession batters more industries - Chicago Tribune
The growing threat of deflation - CNN/Money

INTERNATIONAL
China Slashes Fuel Prices as Economy Enters Slowdown - Bloomberg
Alistair Darling aims to guarantee business lending - Times Online
European data grisly as central bankers eye zero rates - Reuters
Hryvnia Plunges 17% as Ukraine Fails to Ease Default Concern - Bloomberg
IMF sees U.S. recovery in late 2009 - Reuters
German December Business Confidence Lowest Since 1982 - Bloomberg
British banks will need more money, Bank of England's Charles Bean warns - Telegraph

HOUSING
Statement On H.R. 6694, "Seller-Funded Downpayment Assistance" Loans - ML-Implode
Realtors: State home prices have a brutal 2008 - SF Gate
It's refi -- not buy -- in Seattle's housing market - Seattle PI
US House Prices Continue to Fall Despite Low Mortgage Rates - VOA News
HUD Chief Calls Aid on Mortgages A Failure - Washington Post

FED/TREASURY/BANKING
Keynes Revival Makes Cato a Lonely Hearts Club - Baum, Bloomberg
Paulson May Seek Next $350 Billion in Financial-Rescue Funds - Bloomberg
Schapiro to be named SEC chairman: reports - MarketWatch

INTERESTING
Unusual snowstorm closes three major Southern California freeways - LA Times
Palm Beach pawn shop becomes a bit of a sensation amid Madoff scandal - Chicago Tribune
More are moving out of California than in - LA Times