Wednesday morning links

TOP STORIES
• GM says bondholder offer fails; bankruptcy likely - AP
• U.S. Expected to Own 70% of Restructured G.M. - NY Times
• Chrysler on Pace for Swift Finish to Restructuring - Wash. Post
• The Shadow Banking System and Hyman Minsky’s Journey - Pimco
• Americans' credit scores fall as they struggle to pay bills - USA Today
• U.S. Inflation to Approach Zimbabwe Level, Faber Says - Bloomberg
• Gold still exhibiting its age-old allure - Telegraph
• Wishes, Hopes, Fantasies - Kunstler, CFN

MARKETS/INVESTING
• Oil rises to 6-month high above $63 - AP
• Gold inches down below $950, ETF unchanged - Reuters
• Sterling set for more gains as it breaks through $1.60 - Telegraph
• Gold, silver surge as buck battered: Got Gold Report - StockHouse
• No inflation, zero return from broken I-bonds - MarketWatch
• The gold rush - Fund Strategy

ECONOMY
• U.S. recession to end soon, modest recovery seen - Reuters
• Consumer confidence, or consumer hope? - MarketWatch
• New Normal of 2% GDP Growth Coincides With Biggs - Bloomberg
• Home prices likely to nag, drag at economy - MarketWatch
• Consumer confidence soars in May - AP

INTERNATIONAL
• As Germany Sinks, Its Economic System Is Questioned - NY Times
• Japanese Exports Show Modest Signs of Recovery - Reuters
• China enters race to buy GM's European operations - Guardian
• Bradford & Bingley to Skip Subordinated Bond Interest - Bloomberg
• Shandong Province plans vigorous development of gold industry - ChinaMining
• Spanish bank to repay $235M it withdrew from Madoff scheme - USA Today
• Gold’s share in foreign exchange reserves is 10% - Commodity Online
• After Vote, Is It India’s Time to Shine? - NY Times

HOUSING
• N.J. home prices haven't hit bottom yet - Star Ledger
• Washington Home Prices Fall Again in March - Wash. Post
• Housing Hitting Bottom Means Fewest Starts Since 1945 - Bloomberg
• Home prices, sales plunge in Bay State - Boston.com

FED/TREASURY/BANKING
• In Commercial-Property Market, Hope for Revival Takes Hit - WSJ
• Signal from the Fed: Low rates are here to stay awhile - Seattle Times
• Regional Fed banks worried by outlook in April - Reuters
• Treasurys remain under pressure - CNN/Money

INTERESTING
• Britain's millionaire list shrinks in face of recession - Guardian
• Indiana’s Amish, laid off from RV factories, return to their plows - CSM
• Restaurants cross lines as they struggle through recession - USA Today
• Savings account complaints double in a year - Telegraph

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