Wikinvest Wire

Friday morning links

Friday, February 27, 2009

TOP STORIES
U.S. Economy Shrank 6.2%, Most Since ’82 - Bloomberg
In $3.6 Trillion Budget, Obama Signals Broad Shift - Washington Post
U.S. takes big stake in Citi - Reuters
A Bold Plan Sweeps Away Reagan Ideas - NY Times
Sending the Financial World to Save Eastern Europe - Time
Banks Admit Their Asset Values Are Lies - Business Insider
Fannie taps lifeline after $59B in losses - CNN/Money
Volcker: Tightly regulate banks - CNN/Money

MARKETS/INVESTING
Gold edges higher as risk aversion returns - Reuters
Crude Oil Falls as Recession Deepens - Bloomberg
India yet to import gold in February - Commodity Online
No Gold Bubble - Seeking Alpha
'Next oil shock will be far worse than $147 a barrel' - DNA India
Oil jumps after UAE signals deeper cuts - CNN/Money
More delaying retirement plans, adviser survey shows - MarketWatch

ECONOMY
GDP revised to decline of 6.2% in fourth quarter - MarketWatch
The Systemic Failure of Academic Economics - Debt Deflation
Deficit Plan May Use Over-Optimistic Growth Forecasts - Bloomberg
Obama's budget offers middle and working class 'good news' - USA Today
New-home sales tumble to record low pace in Jan. - AP

INTERNATIONAL
Why China Bulls Are Wrong - Time
RBS record losses raise prospect state ownership - Bloomberg
Eastern Europe banks get bail-out - BBC
China on gold buying spree to grab bullion market - Commodity Online
Swedish Economy Contracted 4.9% in Fourth Quarter - Bloomberg
Wales worst hit in 15% house prices fall - Guardian
Japan Recession Deepens as Factory Output Plunges - Bloomberg
Steep fall in rents as unsold homes flood the market - Guardian

HOUSING
California Home Sales Double as Prices Plummet 41% - Bloomberg
S&P may cut $140 bln of prime jumbo mortgage deals - Reuters
JPMorgan warns of more housing woes - CNN/Money
A responsible homeowner speaks up against bailouts - MarketWatch

FED/TREASURY/BANKING
Failing Upward at the Fed - Norris, NY Times
FDIC Reports That Bank Failures Are Rising - Time
Volcker: Pop Bubbles, Regulate Hedge Funds - WSJ Econ Blog
Obama budget has new $750B bank rescue contingency - AP

INTERESTING
Downturn gains altitude as ski country suffers - MarketWatch
China's Auto Bailout Takes a Different Route - Time
Rocky Mountain News publishes final edition - AP

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