Sunday morning links

TOP STORIES
Georgia, Russia move closer to full-blown war - LA Times
Crisis Averted. What of the Next One? - NY Times
Mission creep at the Fed - Economist
Help for Seniors Who Have Reverse Mortgages - Washington Post
Bank losses Hall of shame - Economist

MARKETS
Naked Came the Speculators - NY Times
Credit bubble bulletin - Nolan, Prudent Bear
Confessions of a risk manager - Economist

ECONOMY
Sales Probably Dropped, Prices Climbed: U.S. Economy Preview - Bloomberg
The case for a new national frugality - LA Times

HOUSING
Wachovia To Exit Retail Mortgages in 19 States: Report - HousingWire
Capital homeowners have less equity, magazine says - Sacramento Bee

FED/TREASURY/BANKING
Are central banks getting it all wrong? - Reuters
Crisis turns free marketeers into regulators - Reuters

INTERNATIONAL
China to avoid post-Olympics slowdown - CHINADaily
Outside U.S., Credit Cards Tighten Grip - NY Times
A Threat of Recession for Economies of Europe - NY Times
Energy intensity falls, call to do more - CHINADaily

INTERESTING
State pays millions for contract psychologists to keep up with Jessica's Law - LA Times