Sunday morning links

TOP STORIES
Battered Hedge Funds Brace for More Pain - Washington Post
Britain readies bank rescue package - CNN/Money
Russia, Ukraine reach gas deal; Europe still waits - AP
Bailout Is a Windfall to Banks, if Not to Borrowers - NY Times
Securities and Exchange Commission: Growing insecurities - Economist
Two U.S. banks fail, first casualties in 2009 - Reuters
A Divergence - Noland, Prudent Bear
California controller to suspend tax refunds, welfare checks - LA Times

MARKETS/INVESTING
How About a Stimulus for Financial Advice? -NY Times
Mumbai: Drastic fall in Gold demand - Express India
Hedge Funds, Unhinged - New York Times
Iran sees oil at around $40 in 2009 - Reuters
Smart Money Takes a Dive on Alternative Assets - WSJ
Buttonwood: In praise of volatility - Economist

ECONOMY
Preview: Housing Starts Probably at Record Low - Bloomberg
Obama stimulus plan not sure bet to heal economy - AP
Tech industry tightening its belt for new year - MarketWatch
With stimulus, there's more bang in each buck - LA Times

INTERNATIONAL
Crisis could lead to creeping U.S. protectionism - Reuters
Gulf Shares Fall on Concern Earnings May Lag - Bloomberg
China's trade: Surplus to requirements - Economist
Europe had "catastrophic" 4th quarter: EU Verheugen - Reuters
Cost of some EU debt protection reaches record levels - FT
Europe's economy: Nowhere to hide - Economist
Trichet Vision Unravels as Italy, Spain Debt Shunned - Bloomberg
World economy: Accelerating downhill - Economist

HOUSING
Strategy for a retired couple as home value falls - LA Times
The Growing Foreclosure Crisis - Washington Post
Trading places - Boston Globe
Worst Small Towns To Own A Home - Yahoo! Real Estate

FED/TREASURY/BANKING
The End of Banking as We Know It - NY Times
Warsh to Remain at Fed Board as Successor Sought for Geithner - Bloomberg
If Plan B to save banks fails, try Plan A again - LA Times
Federal Mortgage Banks Show Stress - Washington Post

INTERESTING
The Secret Reasons for Tuition Hikes - USA Today
Florida Fund Manager Drops Out of Sight; FBI, SEC Investigate - Bloomberg
Japan: City governments raiding remains of dead for precious metals - Info Liberation