Thursday morning links

TOP STORIES
ECB lowers key rate by half a point - IHT
JPMorgan Profit Drops 76% on $2.9B of Writedowns - Bloomberg
Obama would spend bailout funds on housing crisis - AP
Bank Losses Complicate U.S. Rescue - Washington Post
JPMorgan chief says worst of the crisis still to come - AFP
Price-Fixing Begins At Home - Forbes
Fiscal Situation of 50 States - My Budget 360
Apple's Jobs takes medical leave, shares tumble - Reuters
Motorola Cuts 4,000 More Jobs as Phone Sales Slump - Bloomberg
Seagate to shed almost 3,000 jobs, cut salaries - CNN/Money

MARKETS/INVESTING
Oil Drops After OPEC Cuts 2009 Demand Forecast - Bloomberg
Gold futures little changed after ECB rate cut - MarketWatch
Depression ahead, prepare for stock rout: SocGen - Reuters
The "Truth" About the Gold Market Today - Ashe, SafeHaven
Where Is Oil Going Next? - New York Times
IRA Change Helps Retirees Ride Out the Storm - Washington Post

ECONOMY
NY Factory Index Contracts for a Ninth Month - Bloomberg
New jobless claims increase more than expected - AP
December PPI falls for 5th straight month - Reuters
December wholesale prices fall 1.9 percent - AP
Shoppers 'Sidelined' In Long Retail Slump - Washington Post
The Auto Bailout Keeps Growing, and Growing - Time
Economic stimulus to cost $850 billion: source - Reuters

INTERNATIONAL
ECB cuts rates amidst economic woes - Reuters
Nissan cuts Japan production amid reports of loss - AP
UK Mortgage lending dives 60% to record low - Times Online
Rouble at record low as Russia faces up to cheap oil - Reuters
China raises '07 economic growth, passing Germany - AP
Nikkei at 1-mth low on economy fears, machinery data - Reuters
A nightmare week for jobs: axe hovers over nearly 14,000 workers - Guardian
This crisis is our chance to get off the consumerism treadmill - Telegraph

HOUSING
2008 foreclosure filings set record - USA Today
Outlook bleak for South Florida's housing market - Sun-Sentinel
Foreclosures in U.S. Rose 81%, Topping 2.3M Last Year - Bloomberg
Housing market has further to fall: Goldman - Reuters
Realtors(R) Reiterate Keys to Housing Recovery - PR-USA

FED/TREASURY/BANKING
Bank of America in talks for more U.S. bailout funds - Reuters
Fault lines emerge at Fed - MarketWatch
Fed: Economy continues to sour - CNN/Money
Fed Wants ‘Comprehensive’ Plan for U.S. Banks - Bloomberg
US Fed takes a step too far - Merk, 24Hr Gold

INTERESTING
Cheese Is Grosser Than Thought - LiveScience
Ricardo Montalban dies at 88; 'Fantasy Island' actor - LA Times