Wednesday morning links

TOP STORIES
Barons of Wall Street to face U.S. crisis panel - Reuters
The most brazen disdain for democracy in modern times - Guardian
Obama, Bernanke Need Miracles to Weather 2010 - Baum, Bloomberg
Economic stimulus has created or saved nearly 2 million jobs, - Washington Post
Administration Bank Tax Plan: An Empty Populist Gesture by Design? - Naked Capitalism
December was fifth month in a row of outflows from stock funds - MarketWatch
US must cut spending to save AAA rating, warns Fitch - Telegraph
How to Punish A Bank - McCardle, The Atlantic
The Geithner AIG Story - WSJ

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MARKETS/INVESTING
Oil falls below $80 as US inventories jump - AP
Gold edges higher as dollar softens vs euro - Reuters
Short Sellers Home In on China’s Balance Sheet - Pesek, Bloomberg
Industry close to erasing 2008 losses, HedgeFund.net says - MarketWatch
Derivatives Exemption Helps Big Wall Street Banks, Gensler Says - Bloomberg
Crude oil to average $80 a barrel in 2010 - EIA - MarketWatch
Wall St must pay "mad scientists" well: lobbyist - Reuters

ECONOMY
U.S. job hiring picks up in November - Reuters
Ratio of jobless to openings reaches new high - AP
The Pundits/Experts Who Were Wrong on the Housing Bubble - EOC
How nation's true jobless rate is closer to 22% - NY Post
Economy's got more people worried - CNN/Money

INTERNATIONAL
GM: We'll sell more in China than the U.S. soon - CNN/Money
Is China's tightening move a milestone in monetary policy? - MarketWatch
China eager to buy IMF gold for $1,000 per ounce - Commodity Online
Bank shares under pressure across Europe as SocGen warns on profits - Guardian
Venezuela announces nationwide energy rationing - mlive.com
U.S. judge freezes Argentine cenbank accounts - Reuters
German economy contracts 5 percent in 2009 - AP
A global fiasco is brewing in Japan - Telegraph

REAL ESTATE
Walkaways, Pay Option ARMS Hit Banks Bad - Olick, CNBC
Feds probe high default rates at 15 FHA lenders - LA Land
Outraged Over Wall Street Bonuses? Not New York’s Brokers - WSJ
10-day limit on short sales may spur housing market - Miami Herald

FED/TREASURY/BANKING
Bernanke Challenged on Rates' Role in Bust - WSJ
Fed must let mortgage market stand on own, Plosser says - MarketWatch
The Fed Is Too Powerful To Be Unaccountable - Implode-O-Meter Blog
Bill Maher Explains Why You Should Move Your Money - HuffPost
The Deflating (Bursting?) Fed Secrecy Bubble - Zero Hedge

INTERESTING
Toxic metal in cheap jewelry is an open secret in China - AP
Google, disturbed by attacks, considers pulling out of China - MarketWatch
Unhappy meal: Woman charged in McDonald's rampage - AP
Politicians Say Cell Phones Cause Cancer - BadScience

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