Tuesday morning links

TOP STORIES
• The Case Against Larry Summers - Fox Business
• CIT may be saved - but now what? - CNN/Money
• Details Emerge of Atrocious CA Budget Deal - Daily Kos
• California's budget gap won't close for long - Reuters
• Governor, legislative leaders reach state budget deal - O.C. Register
• Is grousing about Goldman reaching critical mass? - MarketWatch
• U.S. Rescue May Reach $23.7 Trillion - Bloomberg
• Is Obama Gorbachev? - Kunstler, CFN

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MARKETS/INVESTING
• Rally's new tune: Don't worry, be happy - CNN/Money
• China gold reserves to boost bullion market: GFMS - Commodity Online
• NatGas in the crosshairs: Got Gold Report - StockHouse
• Hoping for a Breakout? Some Things to Consider - greenfaucet
• “The Speculators ARE the Heroes!” - Saut, Raymond James
• Is GLD A Good Deal? - Hard Assets Investor

ECONOMY
• The LEI Says "RECOVERY!" - ClusterStock
• Roubini: Economic Recovery to Be 'Very Ugly' - CNBC
• Stores Go Dark Where Buyers Once Roamed - NY Times
• How a "Very Pessimistic" Ron Paul Would Fix the Economy - Tech Ticker
• Post Office May Be Unable to Make Payroll - My Federal Retirement

INTERNATIONAL
• UK public borrowing doubles to June record - Telegraph
• As Spain’s Economy Falters, Bank Robberies Rise - NY Times
• China’s PBOC Sells Bills at Highest Yield This Year - Bloomberg
• China's Real Estate Party Heading for a Painful Morning-After - China Stakes
• BOJ members mulled end of liquidity steps at June meeting - MarketWatch
• Sustained housing market recovery ‘unlikely until 2011’ - Wales Online
• Recession forces a million to work part-time - Telegraph
• Iceland Puts $2 Billion Into Collapsed Banks - NY Times

REAL ESTATE
• Realtors’ ‘Rosy’ Index Overstates Affordability - Bloomberg
• Bank 'walkaways' from foreclosed homes growing - Cleveland.com
• The commercial real estate time bomb - CNN/Money
• Woman sues to rescind ARM home loan - Madison Record

FED/TREASURY/BANKING
• Bernanke Says Fed ‘Confident’ of Ability to Stem Inflation - Bloomberg
• No quick exit from credit easing, Atlanta Fed's Lockhart says - MarketWatch
• Banks Fail to Make Adequate Loan-Loss Provisions, Moody’s Says - Bloomberg
• Dismantling the Temple - Greider, The Nation

INTERESTING
• Goldman Sachs in Talks to Acquire Treasury Department - Borowitz
• As police investigate £80m Ponzi scheme, some 'victims' can't believe it - TimesOnline
• Nassim Taleb: clown of quantitative finance - Locklin on Science
• San Diego menaced by jumbo squid - BBC

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