Wednesday morning links

TOP STORIES
Obama Said to Favor $775 Billion for Stimulus Plan - Bloomberg
There is only one alternative to the dollar - Financial Times
Lawmakers set new mortgage bankruptcy bill - Reuters
US auto sales plunge whopping 36 percent in Dec. - AP
Willem Buiter warns of massive dollar collapse - Telegraph
US will emerge as undisputed top dog in 2009 - Telegraph
Bankruptcy filings jump by one-third in 2008 - AP
Prechter Sizes Up Gold in Deflation - GoldSeek
Why didn't SEC catch on to Madoff? Congress asks - USA Today

MARKETS/INVESTING
Oil up to over $50 on Russia gas, Mideast - Reuters
Gold Drops for 4th Day in London as Stronger Dollar Cuts Demand - Bloomberg
Pequot’s Wien Predicts Rallies in Stocks, Oil, Gold - Bloomberg
Gas prices rise for the first time in 16 weeks - Reuters
Is the Comex Doing Fractional Reserve Delivery of Gold? - Jesse's Cafe
The Ponzi Scheme in Every Hedge Fund - Time
“It’s tough making predictions, especially about the future.” - Saut, Raymond James

ECONOMY
Pending home sales index down 4% in November - MarketWatch
Obama Pitches Stimulus Plan - Washington Post
Lessons From The Great Depression - Time
Obama demands 'bold' action on stimulus plan - AFP
Automakers Fear a New Normal of Low Sales - NY Times
Bloomberg proposes ideas for federal economic plan - SILive
This Great Depression Is Just Getting Started - Seeking Alpha

INTERNATIONAL
Euro-zone inflation slows sharply in December - MarketWatch
Crystal, china maker Waterford Wedgwood collapses - AP
U.K. Consumer Confidence Declined to Four-Year Low in December - Bloomberg
Why Russia's woes should worry you - MSN Money
Russian gas disruption spreads across Europe - Globe & Mail
German officials negotiate terms of stimulus package - IHT
Canadian auto sales skid 21 per cent - Globe & Mail

HOUSING
Stimulus Package to Include Cram-Downs: Report - HousingWire
The 'McMansion' trend in housing is slowing - CSM
How to come out ahead in the 2009 real estate market - ABC2News MD
Economists seek solutions, signs of life in housing - Reuters
Sign of the Times: Even Homebuilders Prefer to Rent - HousingWire
Realtors Slam New Fannie Mae Fees, Bloggers - The Truth ABout Mortgage

FED/TREASURY/BANKING
Treasuries Drop Amid Concern U.S. to Sell Record Amount of Debt - Bloomberg
Fed Focuses on Consumer, Corporate Rate Spreads Over Treasuries - Bloomberg
New York Fed Begins Purchases of Agency Mortgage Debt - Bloomberg
GMAC’s Sweet Government Ride - NY Times DealBook
Credit crunch shows little sign of easing - CSM

INTERESTING
Farewell GWB - Kunstler, CFN
TV Converter Program Runs Out of Funding - Washington Post
China raps Google for allowing 'vulgar' content - SF Gate