Friday morning links

TOP STORIES
• Employers Cut 651,000 Jobs; Unemployment Rose to 8.1% - Bloomberg
• Time is ‘running out’ to save US automakers - CSM
• Undisclosed losses at Merrill Lynch lead to a trading inquiry - IHT
• Two-Thirds of Chinese Economists Favor Gold Over US Bonds - China Stakes
• U.S. to invite wealthy to invest in bailout - Reuters
• The U.S. Financial System Is Effectively Insolvent - Forbes
• Buttonwood: The grand illusion - Economist
• Central banks look again at bullion sales pact - Financial Times

MARKETS/INVESTING
• Gold up on flight to safety, SPDR stays at record - Reuters
• Oil rises above $44 despite grim US corporate news - AP
• A change in newsletters' long-term rankings - MarketWatch
• The stock market's historically bad run - Curious Capitalist
• Stockmarkets and dividends: Slash and burn - Economist
• Gold fails to glitter on India wedding season - Commodity Online

ECONOMY
• Payrolls sink 651,000, jobless rate soars to 8.1% - MarketWatch
• Workers clobbered by relentless layoffs - AP
• Bay Area unemployment jumps higher - SF Gate
• GM pensions: who's responsible? - Globe & Mail
• Factory orders fall for sixth straight month - MarketWatch

INTERNATIONAL
• BOE’s King ‘Groping in the Dark’ as U.K. Prints Money - Bloomberg
• Monetary policy takes effect, adjustment possible - CHINADaily
• Rush to buy government bonds - Guardian
• Zhou Pledges Fast, Heavy-handed Policies - Bloomberg
• Q&A: How will quantitative easing affect me? - Times Online
• Japan's slump tests faith in the resilience of stocks - IHT
• Wen boosts spending without adding to stimulus package - Guardian
• Bankers: Scapegoat millionaire - Economist

HOUSING
• Most foreclosures pack into a few counties - USA Today
• RE experts: Investment opportunities on horizon - Jacksonville Biz
• Low Prices Aren't Luring Homebuyers - TheStreet.com
• Job losses add to home foreclosures - Oregon Live

FED/TREASURY/BANKING
• Fed official sees late-year recovery - Reuters
• Senators Ask Who Got Money From A.I.G. - NY Times
• Treasury secretary's choice for deputy withdraws - AP
• Frank Seeks to Curb ‘Phenomenon of Securitization’ - Bloomberg

INTERESTING
• Craigslist sued over erotic-services ads - SF Gate
• Is Europe Falling Out of Love with Obama? - Time
• World's heaviest man gets a lift in custom van - AP

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