Thursday morning links

TOP STORIES
GM, Chrysler May Accept Bankruptcy to Receive Bailout - Bloomberg
Europeans make big rate cuts to fight recession - Reuters
Economists: Stabilize Home Prices By Cutting Them Drastically - WSJ blog
Fortress, the Hedge Fund, Is Crumbling - NY Times
AT&T cutting 12,000 jobs, lowers capital spending - Reuters
The U.S. Recession and the Zimbabwe Option - The Trumpet
U.S. homes now undervalued, economists say - MarketWatch
Bank of England cuts rates, but will it do any good? - Telegraph

MARKETS/INVESTING
Metal prices fall further than during Great Depression - Telegraph
Oil down to $46 after nearly four-year low - Reuters
In tough times many dip into retirement savings - CNN/Money
Gold Falls in London as Dollar Gains Before Decisions on Rates - Bloomberg
Harvard Lessons: No place to hide - MarketWatch
Dow Will Equal Gold in 2009 - Seeking Alpha

ECONOMY
Initial jobless claims fall to 1-month low of 509,000 - MarketWatch
Calls for $1 Trillion Stimulus Package Grow as Economy Tumbles - Bloomberg
The American Crisis and the Case for an Inflationary Depression - Seeking Alpha
Embracing inflation - Guardian

INTERNATIONAL
Bank of England cuts rates from 3 per cent to 2 per cent - Telegraph
New Zealand Cuts Key Interest Rate by Record to 5% - Bloomberg
ECB cuts eurozone rates to 2.5% - BBC
Sweden Cuts Key Rate to 2% as Economy Nears Recession - Bloomberg
House prices fall at fastest rate in 25 years - Times Online
1930s beggar-thy-neighbour fears as China devalues - Telegraph
The Downturn Hits Dubai - BusinessWeek
Dubai Speculators Quit as Lending Drought Bursts Desert Bubble - Bloomberg

HOUSING
Paulson Considers New Plan to Resuscitate U.S. Housing Market - Bloomberg
Home Foreclosures Continue, Despite Bank's 'Freeze' - BusinessWeek
Buyers flock to condo auction, ready to snap up bargains - MarketWatch
Signs of life in U.S. housing market - Globe & Mail
House Prices and Interest Rates - Calculated Risk
A Rush Into Refinancing as Mortgage Rates Fall - NY Times

FED/TREASURY/BANKING
The Fed's Potentially Very Bad Policy - Seeking Alpha
Bernanke Should Buy Buicks Instead of Bonds - Bloomberg
Wolf: Stimulus Programs by Big Debtor Countries Will End in Tears - Naked Capitalism
Geithner May Seek to Push Bair Out After Clashes During Crisis - Bloomberg

INTERESTING
Feds nix plan to sell Detroit houses tied to drugs - AP
Fla. man accused of making boy drive on beer run - AP