Wednesday morning links

TOP STORIES
Elders of Wall St. Favor More Regulation - NY Times
California's sorry state a major threat to U.S. - Globe and Mail
New wave of foreclosures by end of 2010 is feared - LA Times
White House touts job creation on stimulus anniversary - MarketWatch
Will We Have to Blow Up a Continent (Again) Before We Stop Wall Street? - New Deal 2.0
The Fed's Exit Strategy: Unlegislated Bailout of Fannie and Freddie - Hussman Funds
The trouble with bubbles: They're elusive - Globe and Mail
Tax audits: Uncle Sam wants you! - CNN/Money

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MARKETS/INVESTING
Oil above $77 amid rising equities, weak dollar - AP
Gold rises above $1,120/oz as euro firms - Reuters
Soros doubled gold ETF investment, buys Citi - Reuters
Paulson & Co Dec. 31 2009 13-F Released - Zero Hedge
Is it time to dump my gold? - CNN/Money
Is fiduciary duty the fix? - Time

ECONOMY
Housing Starts Increased 2.8%, Permits Fell - Bloomberg
Obama to create debt commission Thursday - CNN/Money
Higher Inflation Is a Lousy Cure for Meltdowns - Baum, Bloomberg
Net foreign purchases of U.S. assets slow in Dec. - MarketWatch
Home-builder confidence climbs - Reuters

INTERNATIONAL
Greece should default and reschedule - Reuters
Greek finance ministry workers strike - Globe and Mail
Social, economic dilemma for China as home prices soar - Reuters
Former Mexican official calls for ‘North American union’, unified currency - Time
Putin calms Greece, says U.S. debt big too - Globe and Mail
Japan Overtakes China as Largest Holder of Treasuries - Bloomberg
China Sells Treasuries... or Did They? - EconomPicData
MPC voted 9-0 to halt quantitative easing - Guardian

REAL ESTATE
Coming Soon: 5 Million More Foreclosures - The Big Picture
What Mortgage Modifications Say About the Housing Market - Olick, CNBC
National Mortgage Delinquencies Jumped 10.24 Percent at End of 2009 - TransUnion
Guess what housing bears? Realtors also see a drop-off coming - Boston.com
Distressed Sales: Sacramento as an Example - Calculated Risk

FED/TREASURY/BANKING
The new normal - EconBrowser
Alford: My Nominee for Worst Macro Paper, Ever - Naked Capitalism
Fed President: Great Depression Possible If Fed Stripped Of Bank Oversight - HuffPost
Fed's Hoenig says fiscal strains pressuring Fed - Reuters

INTERESTING
Happiest States: Hawaii Now in First Place - LiveScience
Can the ski suit make the man (and woman)? - Fortune
Dog 'hitches ride' from New Mexico to Louisiana - AP
The killer tortoise - PogPog

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