News for 9/26/2010

Sunday 9/26/2010 powerLINKS!

Traders manipulating cheap stocks: market maker - Reuters

Credit Unions Bailed Out - WSJ
"U.S. Backs $30 Billion in Bonds to Stabilize Key Institutions; Subprime Legacy"

$7 billion-asset Warrenville credit union seized - Chicago Breaking Business

Securitization used to fix toxic credit unions - MarketWatch
"$50 billion of toxic securities to be resold with government backing"

Stock Market Wrap with Art Cashin - King World News (9/25)

Weekly Chartology - Even David Kostin (of Goldman Sachs) Says To Watch Out After Best September In 70 Years - Zero Hedge

Treasury Said to Ready Plan to Sell AIG Stake, Recoup Taxpayer Investment - Bloomberg

Housing 'Recovery' a Mirage: Short Homebuilders, Glenn Tongue Says - Tech Ticker Video

"T2 Partners' hedge fund is short names like Barnes & Noble, Garmin and several homebuilders on the belief their core business models are not sustainable." - Tech Ticker

Gold is the final refuge against universal currency debasement - Telegraph

Weekly Visual CFTC Commitment Of Traders Summary - September 24: Treasury Spec Contracts At 2010 High - Zero Hedge

Brazil Crops Shrivel as Amazon Dries Up to Lowest in 47 Years - Bloomberg (9/24) (h/t Night Blogger)

Hugh Hendry: 'It was too easy to make money speculating' - BBC News (video interview), he said hedge funds could decline by 80%, market might not move for 20 years! *Update: BBC Vids - part 1, 2, 3.

Joseph Stiglitz (Columbia Prof former World Bank President) : "Les réformes financières sont insuffisantes" (Joseph Stiglitz: "Financial reforms are insufficient") - Lexpress.fr (video interview)

Joseph Stiglitz : "Les grèves en France ? Un formidable espoir" (Joseph Stiglitz: "Strikes in France? A great hope") - Lepoint.fr (video interview)

Taleb Says Unawareness of Deficit Risk Has Him `Extremely Bearish' on U.S. - Bloomberg

Chinese Property Bust Is Morphing Into a Slow Leak: Commentary by Andy Xie - Bloomberg

China Allows Banks to Sell Loans on Interbank Market; 21 Lenders Sign On - Bloomberg

Bills Yielding 26 Times Treasuries Beat Stocks, Bonds, Gold: India Credit - Bloomberg

Israel Interest Rate Hold May Push Shekel, Yields Lower, Barclays Says - Bloomberg

The case for ditching the Dow - AP

Irish economy contracts by 1.2% - BBC News UK

Irish Double Dippyness Fuels Debt Market Worries - MarketBeat (WSJ) 9/23/2010 (h/t ETFtrends.com)

The price of bear insurance (Société Générale economist Dylan Grice) - FT Alphaville

QE II: All But Baked In? - Reuters (MacroScope)

The Goldman headquarters default - Felix Salmon

What Structural Unemployment Looks Like - Paul Krugman NYT

Geopolitics:

'State-sabotage' behind Iran virus - Al Jazeera

Fortified border: Iraq on guard against Iran - AP

Japan PM refuses China apology demand - Reuters

Jewish activists set sail for Gaza planning to break blockade - Guardian

Mahmoud Ahmadinejad Speech to United Nations (says U.S. Government orchestrated 9/11 attack, U.S. walks out) - video on previous post

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