Wednesday morning links

TOP STORIES
Senate Poised to Add $2 Billion to ‘Clunkers’ - Bloomberg
Guard troops may be needed in troubled Ala. county - AP
Disarray hobbles U.S. financial regulation effort - Reuters
336,173 Foreclosure Filings Reported in June 2009 - RealtyTrac
Fed Plans to Build on Sham Stress Tests for Regulation - Naked Capitalism
Cash for Clunkers Is Just a Broken Windshield - Bloomberg
No quick end to China's fiscal stimulus - Reuters
Consumer bankruptcies jump 34% - CNN/Money

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MARKETS/INVESTING
Big oil speculator defends practice in Washington - AP
Central Bank gold sales show huge drop in first half - Mineweb
Higher commodity prices flash warning signs - Breaking Views
Speculation curbs could force ETFs to slow growth - MarketWatch
OPEC unlikely to cut oil output in Sept - Reuters
Buffett’s Betrayal - Reuters

ECONOMY
Job cuts spike in July - Challenger - CNN/Money
ADP: Companies Decreased Payrolls by 371,000 - Bloomberg
Fed Watch: Is a Jobless Recovery Your Best Friend? - Economist's View
Stimulus: What's been spent - what hasn't - CNN/Money
Pending Sales of Existing Homes in U.S. Surge 3.6% - Bloomberg

INTERNATIONAL
China may need 2nd fiscal stimulus next yr-Roach - Reuters
HBOS bad debts plunge Lloyds £4bn into the red - Guardian
Shanghai Mayor Seeks to Check ‘Too High’ Home Prices - Bloomberg
King to Halt Gilt Purchases on Economy, Dealers Say - Bloomberg
Australia posts narrower trade deficit in June - MarketWatch
Flaherty considers steps to slow dollar's rise - Globe Investor
U.K. July house prices up 1.1%: Halifax - MarketWatch
British Real Estate Market Seems to Be Thawing a Bit - NY Times

REAL ESTATE
Why Home Prices Will Continue To Fall - CBS News
Greenspan: Housing Market Bottom Yet To Come - BusinessWeek
U.S. Effort Aids Only 9% of Eligible Homeowners - NY Times
Another sign of a housing thaw - CNN/Money

FED/TREASURY/BANKING
Ben Bernanke's failure at the Fed - Guardian
Why Won't Barney Frank Just Agree To Audit The Fed? - Bloomberg
Geithner drops the F-Bomb, or now we know reform is on the way - Bing
End the Fed? A not-so-crazy idea. - CSM

INTERESTING
First Amendment Award: Best Blog Zero Hedge - Wall St. Cheat Sheet
Chinese survey finds prostitutes more trusted than officials - rawstory
Healthcare Plan Based on Economic Fantasy - Ron Paul
CNN Poll: 50% favor health care reform - CNN/Money

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