Friday morning links

TOP STORIES
• GM awaits judge's ruling on sale plan - AP
• Job Losses Dampen Hopes for Recovery - Wash. Post
• Seven banks bring 2009 U.S. failures total to 52 - MarketWatch
• GM could exit Chapter 11 this month, IPO in 2010 - MarketWatch
• Cash-poor California turns to IOUs - CNN/Money
• The scandal of overdraft fees - Salmon, Reuters
• On giving Goldman a chance - True Slant
• California sends out IOUs - LA Times

MARKETS/INVESTING
• Oil's record high, one year later - CNN/Money
• Gold edges up on overseas markets, rupee - Economic Times
• Rogue oil trader blamed for Tuesday's spike - MarketWatch
• Hurricanes May Increase in Gulf as El Nino Shifts - Bloomberg
• June jewellery sales soar in Abu Dhabi - Commodity Online
• OPEC president satisfied with current oil price - Globe & Mail

ECONOMY
• Taking a weed whacker to green shoots - CNN/Money
• American Jobs Data Are Worse than We Think - Pimco
• Grim jobless numbers damp economic recovery hopes - LA Times
• Is free checking on its way out? - CNN/Money
• That ’30s Show - Krugman, NY Times

INTERNATIONAL
• World markets slide on grim US jobs report - AP
• PBOC's Zhou: China is saving too much - MarketWatch
• Darling: Bankers will be 'brought back to earth' - Telegraph
• Major nations should back dollar as key currency: Japan - Reuters
• Japan's Hayashi: U.S. economy has yet to hit bottom - MarketWatch
• Appraising the European Central Bank: Hard talk, soft policy - Economist
• Green Power Takes Root in the Chinese Desert - NY Times
• The relaunch of Gordon Brown: The vision thing - Economist

HOUSING
• House prices and the wealth effect - Economist
• Manhattan real estate market finally craters - WalletPop
• Spring U.S. housing market hints at awaited recovery - Reuters
• Bear Market in U.S. Housing to Last Years - Rosemanblog

FED/TREASURY/BANKING
• Crisis Won’t End Until Balance Sheets Get Real - Bloomberg
• US toxic securities funds launch seen at $20 bln - Reuters
• Fed Assets Shrink to $2.01T as Lending Declines - Bloomberg
• Small business lending falls sharply - CNN/Money

INTERESTING
• Recession-fed tensions grow in luxury hotel industry - LA Times
• NYPD rookie makes arrest moments after graduation - AP
• The Strange Ingredients in Fireworks - LiveScience
• A comedian in the Senate: Eight months later - Economist

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