Friday morning links

TOP STORIES
Mortgage defaults soar to record 13% - LA Times
Fed retreat draws elite, but glamour is on holiday - Reuters
Most Failing Banks Are Doing It the Old-School Way - NY Times
Bankers Craving Bonuses Fudge Loan-Loss Reality - Bloomberg
Wall Street bears lacking firepower despite help from China, oil - LA Times
Rise of the Super-Rich Hits a Sobering Wall - NY Times
New credit-card rules: How do they affect you? - CSM
The Rage over Goldman Sachs - Time

Get these links delivered to your inbox every day.

MARKETS/INVESTING
World stocks up on another Shanghai advance - AP
Oil hits 2009 high above $74, eyes Fed speech - Reuters
Gold Climbs as Lower Dollar Boosts Demand for Hedge - Bloomberg
Top 10 investor traps list leveraged mutual funds - USA Today
Stiglitz Sees Risk to Dollar, Need for Reserve System - Bloomberg
China fears spark flight to safety - CNN/Money

ECONOMY
Back-to-school looks weak for apparel retailers - Reuters
Economic Data Continue to Chart Bumpy Road to Recovery - Wash. Post
More shoppers thinking twice in the checkout line - AP
Economic indicators are up. Does it matter? - CSM
Youth unemployment: Left behind - Economist

INTERNATIONAL
World economy: U, V or W for recovery - Economist
China stocks up 1.7 pct, but post 3rd weekly loss - Reuters
China Planning Rules Tightening Capital of Banks - Bloomberg
Euro-zone economy stabilized in August, PMI indicates - MarketWatch
Brown’s U.K. Budget Leaves Cuts for Next Government - Bloomberg
China’s Economic Growth May Accelerate This Quarter - Bloomberg
FTSE 100 above 4,800 for first time since October - Telegraph
Monetary policy: Tight corners - Economist

REAL ESTATE
Mortgage Delinquencies Rise as Home Prices Fall - Bloomberg
America's housing market: Where it all began - Economist
Improving Home Sales Belie Market Reality - WSJ($)
Housing derivatives: Spark of invention - Economist

FED/TREASURY/BANKING
Master of the Economy - Wash. Post
Bernanke's tough task: Withdrawing emergency aid - AP
F.D.I.C. Seeks to Attract More Buyers of Banks - NY Times
Banks trim borrowing from emergency Fed program - AP

INTERESTING
Workplace suicides surge 28% - AP
CIT Bonds Sold to Widows Have Fine Print That Pimco Resists - Bloomberg
The Truth About Record-Setting U.S. Life Expectancy - LiveScience
Baby boomers still getting high, agency says - Reuters

###