Morning Reading

Some days, there’s not much to read in the papers

Today is not one of those days:

Bailouts/Financial Crisis

Bankers Told by Paulson to Accept U.S. Aid or Be ‘Vulnerable’ (Bloomberg)

U.S. Moves to Regulate Derivatives Trade (WSJ) Also, U.S. Regulators Seek Trace-like Reporting for OTC Derivatives (Bloomberg)

S&P: U.S. banking crisis may last until 2013 (Reuters)

Inside Citi’s Stress Test: More like an F than a B+ (Time)

US ‘sham’ bank bail-outs enrich speculators (Telegraph)

Is it time to stress-test the Federal Reserve? (Marketwatch)

A.I.G. Says It Needs 3 to 5 Years to Overhaul Itself (NYT)

Real Estate/Mortgages

U.S. Foreclosure Filings Hit Record for Second Straight Month (Bloomberg)

Slow Start to Federal Plan for Modifying Mortgages (NYT)

Zillow: Most U.S. homeowners think a bottom has been reached (Reuters)

Another View: A Market-Based Fix for Mortgages (Dealbook)

Rents Crashing in London to 1991 Prices (Bloomberg)

U.S. to Use Bailout Repayments to Aid Small Banks (NYT)


Signs of Consumer Strain Hit Stocks (WSJ)

Recession Drains Social Security and Medicare (NYT)

State Taxes Take a Nose Dive (Economix)

•  The Almighty Renminbi? (NYT)

•  Jobless Claims in U.S. Increase More Than Forecast (Bloomberg)

Cargo Ships Treading Water Off Singapore, Waiting for Work (NYT)

Bank of England Warns of ‘Slow and Protracted’ Recovery (NYT)

GM Now Sees Bankruptcy as ‘Probable,’ CEO Says (Bloomberg)


Power Problem: The business press did everything but take on the institutions that brought down the financial system (Columbia Journalism Review)

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