Wednesday morning links

TOP STORIES
Obama's Address: A Road Map Without GPS - Time
Bernanke Spurns Outright Control of Banks in Rescue Plan - Bloomberg
Obama says American spirit will overcome crisis - LA Times
STOP "FHA Subprime" and Downpayment Money Laundering - Implode-O-Meter
Georgia furloughs 25,000 workers - CNN/Money
The Inevitability of U.S. Debt Repudiation - Infectious Greed
What's blowing the golden bubble? - Business Day
Fed: Delinquency Rates Increased Sharply in Q4 - Calculated Risk

MARKETS/INVESTING
Oil pushes above $40 as equities support - Reuters
Gold slightly lower as rising stocks reduce safety buying - MarketWatch
'Oil is good buy at $40. Gold is good buy at $900' - Commodity Online
NYMEX responds: 25% silver short is not manipulative - Investigate UK
The United States Oil Fund mystery - FT Alphaville
Fidelity's fund assets fell 23% in 2008 - MarketWatch

ECONOMY
Bernanke: Recovery will take years - CNN/Money
Fix banks first, growth will follow: Bernanke - MarketWatch
Obama and Bernanke offer hope for the economy - LA Times
How the Economy was Lost - CounterPunch
Consumer confidence plummets - CNN/Money

INTERNATIONAL
Japan Exports Plummet 45.7%, Deficit Widens to Record - Bloomberg
Japan considering direct share purchases: report - MarketWatch
U.K. economy worst since 1980 - CNN/Money
Thailand's central bank lowers interest rates to 1.5% - MarketWatch
German CDS debt spreads hit record as economy crumbles - Telegraph
U.K. Economy Shrinks Most Since 1980 on Spending Drop - Bloomberg
Xinjiang: China's mountain of gold deposits - Commodity Online
Ukraine Credit Rating Downgraded 2 Levels to CCC+ by S&P - Bloomberg

HOUSING
Home Prices Post Biggest Drop in 21 Years - BusinessWeek
Five Reasons To Kill The Homeowner Deduction - ClusterStock
Foreclosures hit South County - Orange County Register
Southland investors revisit buy and hold strategy - LA Land
Are L.A./O.C. home-price losses moderating? - O.C. Register

FED/TREASURY/BANKING
Bernanke reveals 3-step plan to fix banks - USA Today
There are no zombie banks, Bernanke says - MarketWatch
Bernanke - the pot calls the kettle black - Bruce Krasting
Stress Test for Banks Exposes Rift on Wall St. - NY Times

INTERESTING
Cave House for Sale in Festus, MO - ZillowBlog
Wynn Resorts: "Dramatic" decline in business - MarketWatch
San Francisco: A no-newspaper town? - CNN/Money

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