Tuesday morning links

TOP STORIES
Fed Readies for Balance Sheet Tool as Rate Nears Zero - Bloomberg
Merkel pledges more German stimulus - IHT
Black September - Economic Populist
Goldman's investment-banking revenue falls 48% - MarketWatch
European Crass Warfare - Krugman, NY Times
Pelosi sees stimulus of about $600 billion - MarketWatch
Bankruptcy filings rise 30% this year - CNN/Money
What's the difference between a good Ponzi scheme and a bad Ponzi scheme? - Time

MARKETS/INVESTING
Oil rises to $45 ahead of OPEC meeting - AP
Gold Declines as Investors Sell After Price Rally, Euro Stalls - Bloomberg
The Crash: What Went Wrong? - Washington Post
The 2008 market will go down in history - MarketWatch
Big Oil Projects Put in Jeopardy by Fall in Prices - NY Times

ECONOMY
Inflation drops bigger-than-expected 1.7 percent - AP
November housing starts and permits at record low - Reuters
US Deficit would top $1 trillion with new method - AP
Industrial Production Falls on Autos - Bloomberg
Builder confidence holds at historic lows - CNN/Money
Credit crisis forces rich Americans to pawn their designer belongings - Telegraph

INTERNATIONAL
Bank of England warns more needed to rescue UK economy as bail-out falters - Telegraph
China’s Zhou Sees More Rate Cuts as Investment, Economy Weaken - Bloomberg
Germany expects less than minus 3 per cent growth - Euro Intelligence
Saudi Arabia Cuts Key Interest Rate Half a Point - Bloomberg
China’s economy hits the wall - Financial Times
Europe banks face $19 billion Q4 write-down - Reuters
Latin nations fight economic slump with stimulus - LA Times
Trichet Sees Rate-Cut Limit, Signals ECB May Pause - Bloomberg

HOUSING
Home buyers stirring in some markets - Christian Science Monitor
Two Ways to Revamp U.S. Housing Policy - NY Times
In a short sale, it's all about what the lender will net - LA Land
Fitch: Alt-A Mortgages Deteriorating More Rapidly than Expected - HousingWire

FED/TREASURY/BANKING
Rate cut expected as Fed mulls emergency tools - Reuters
Fed’s Words May Speak Louder Than Actions Now - Bloomberg
AIG sells mortgage securities to Fed vehicle - MarketWatch

INTERESTING
Feds seize artifacts from hit show 'Survivor' - AP
40 Inspirational Speeches in 2 Minutes - Time