Tuesday morning links

TOP STORIES
Obama Says Failing to Act Could Lead to a ‘Catastrophe’ - NY Times
U.S. to lay out plan to sop up bad mortgage assets - Reuters
New Bailout May Top $1.5 Trillion - Washington Post
Bank Rescue May Determine Effectiveness of Stimulus - Bloomberg
GM to cut 10,00 salaried jobs - AP
SEC enforcement chief Linda Thomsen resigns - AP
Why the CEO salary cap is a joke - Jubak, MSNBC
Poverty of Imagination - Kunstler, CFN

MARKETS/INVESTING
Oil Rises on Speculation Stimulus Will Help Demand - Bloomberg
Gold inches up while ETF hits record, U.S. stimulus eyed - Reuters
Investors Boost Bets Gold Will Reach $1,000 - Bloomberg
“California Dreaming” - Saut, Raymond James
Vindication - Butler, Investment Rarities
Groucho’s Investment Club - Your Mortgage or Your Life
Dubai gold trade soars 53% - Gulf News

ECONOMY
U.S. employers try to avoid layoffs as economy reels - Reuters
The Great Depression - Just the Facts, Ma'am - Kasriel, SafeHaven
Obama Says Economic Crisis Comes First - Washington Post
Obama to Congress: Pass stimulus, don't play games - AP
Recession Won’t Morph Into an American Depression - Bloomberg
25% of companies plan salary freeze - CNN/Money

INTERNATIONAL
Roubini: Anglo-Saxon model has failed - Financial Times
Bank bosses from RBS and HBOS apologise for crisis - Telegraph
Buyers lining up, says RICS, but loans are out of reach - TimesOnline
Russia Banks Seek Debt Talks; No Restructuring Plans - Bloomberg
One quarter of Canadians fear layoffs - Globe & Mail
Deflationary pressures mounting in China - MarketWatch
French carmakers get 6.5bn euros - BBC
Ukraine looks for new loans amid funding crisis - MarketWatch
Courts failing borrowers in arrears - TimesOnline

HOUSING
U.S. home prices sank 13.8 percent in 2008 - Reuters
Fannie, Freddie Funding Needs May Pass $200 Billion - Bloomberg
Regulations, Real Estate and Why You Should Buy Now - MarketWire
U.S. Housing Market May Bottom in 2009, Zandi Says - Bloomberg
Twin Cities housing market won't hit bottom in '09 - TwinCities.com

FED/TREASURY/BANKING
Congress Misreads Public Anger at Wall Street - Bloomberg
Fed's Fisher says Fed independence must be ensured - Reuters
Kill Debt Ceiling, Embrace Deficit, Watch Yields - Bloomberg
Bond Vigilantes Dare the Fed to Act - Raymond James
More than 1,000 banks may fail, analyst estimates - MarketWatch

INTERESTING
Lincoln's treasures rolled out for bicentennial - AFP
Starting Public-Sector Jobs With Parting Gifts in Hand - Washington Post