Friday morning links

TOP STORIES
• Jobless rate bolts to 8.5 percent, 663K jobs lost - AP
• Senate approves $3.53 trillion budget plan - MarketWatch
• G20 summit: Gordon Brown strikes historic $1 trillion deal - Telegraph
• World Leaders Pledge $1.1 Trillion to Tackle Crisis - NY Times
• The G20 has lost the plot - Telegraph
• Ill Prepared for Long-Term Health Care - BusinessWeek
• Geithner’s Non-Recourse Gift Keeps on Giving to Gross - Bloomberg
• FASB relaxes accounting rules for banks on assets - AP

MARKETS/INVESTING
• 'China ready to buy IMF gold with a telephone call' - Commodity Online
• Causes of the Oil Shock of 2007-08 - Econbrowser
• Consequences of the Oil Shock of 2007-08 - Econbrowser
• Everything You Ever Wanted To Know About Junior Gold Miners - HAI
• Buttonwood: Minsky's moment - The Economist
• Gold: Bullish on bullion - The Economist

ECONOMY
• Payrolls fall 663,000, jobless rate jumps to 8.5% - MarketWatch
• Where jobless benefits go furthest - MSN Money
• Factory orders increase first time in 7 months - MarketWatch
• The Misery Index: Jobless rates by metro area - MSN Money
• Home Equity Delinquencies Hit New Record High - Truth About Mortgage

INTERNATIONAL
• China positioning its currency for a run at world supremacy - LA Times
• G-20 Shapes New World Order With Lesser Role for U.S. - Bloomberg
• G20 trebles IMF funding to $750bn to help poorer countries - Telegraph
• ECB Faces Day of Reckoning as Debate on New Tools Nears End - Bloomberg
• China’s Dollar Trap - Krugman, NY Times
• Spanish banks: The mess in La Mancha - The Economist
• IMF Makes Comeback as It Wields $1 Trillion for Rescue - Bloomberg
• Japan: The incredible shrinking economy - The Economist

HOUSING
• Loan modifications rise; many don't pare payments - AP
• Case-Shiller: Is it Really THAT Bad? - Zillow.com
• Home builders, California Realtors offer layoff insurance - LA Land
• Sixth of homebuyer tax break gone in a month - O.C. Register

FED/TREASURY/BANKING
• Bernanke Easing Mortgage Rates for Consumers - Bloomberg
• Senate OKs measure calling on Fed to name firms - AP
• 'Chronic Disorganization' Cited in Efforts to Fix Crisis - Wash. Post
• 5 banks repay $353M in bailout funds - AP

INTERESTING
• Feds: Value of Madoff mansion has dropped nearly $2M - AP
• Mayor Ray Nagin Facing Foreclosure on Townhouse - Zillow.com
• W.Va. retiree, 70, aces consecutive holes - AP

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