DOW Trades Up 300 Points, Simon Johnson On Bailout 2.0, EU Considers Short Sale Ban, Goldman Sachs Has Lost Its Mojo, BofA Tries To Raise Cash, Whalen On Banks To Buy

Selected stories from around the web this morning.

• DOW trades up 400 points
• Why The Market Gods are Angry - Dylan Ratigan & Bill Fleckenstein
• Goldman Crashes: Reports 24% Trading Day Losses In Q2, Vs. 1% In Q1
• ‘Seven lean years’ may be optimistic, Grantham now says
• UK Will Stick With Austerity Plan Because It's Working Says Osborne
• Swiss franc slumps 5% against dollar, euro
• Mortgage rates fall again, 30-year near record low
• Europe Considers Ban on Short Selling
• Another Round of Bailouts? - Simon Johnson
• BofA talks to Gulf SWF funds to cut $17 billion China Bank stake
• Wall Street Firm accused of defrauding Wisconsin schools out of $200 million
• Free college tuition for the long-term unemployed
• Foreclosure activity drops to 44-month low due to processing delays
• Chris Whalen On Good Buys In Banking Sector
• Great George Carlin Quote On Politics - Profanity

Comments

[DailyBail]

Greece begins €50bn privatisation drive

http://www.guardian.co.uk/world/2011/aug/01/greece-50bn-privatisation-drive

The asset sales prepare to commence.

[DailyBail]

Citi, B. of A. back to manic after being depressed

http://www.marketwatch.com/story/citigroup-bank-of-america-drive-financials-higher-2011-08-11?link=MW_home_latest_news

[DailyBail]

WASHINGTON (MarketWatch) — A day after the Fed’s historic pledge to keep rates near zero for the next two years, experts said they expect more moves from the central bank in coming months.

“There is no reason to assume that the change in the language….is the end of the road,” said Lou Crandall, chief economist of Wrightson ICAP, in a note to clients.

Jan Hatzius, chief U.S. economist at Goldman Sachs, said there is now a “greater-than-even chance” that the Fed will resume quantitative easing later this year or in early 2012.

http://www.marketwatch.com/story/fed-isnt-done-experts-say-2011-08-10?Link=obinsite

[john]

Pelosi picks Clyburn, Becerra and Van Hollen for deficit ‘super committee’

http://www.nypost.com/p/news/national/pelosi_picks_clyburn_becerra_committee_XtRtmkX7JL2XygiyWhBuGN

Note: all 3 are in favor of cap and trade and we know how much Pelosi loves the VAT tax.

[TR]

This was written by RedState.Com Editor Erick-Woods Erickson

http://www.cnn.com/2011/OPINION/08/09/obama.right/index.html?source=patrick.net

[DailyBail]

Wisconsin Has ‘Had It’ With Recalls: Walker

http://www.bloomberg.com/news/2011-08-11/walker-says-wisconsin-voters-have-had-it-after-record-recall-elections.html

[DailyBail]

Societe Generale (GLE) SA, which yesterday plunged 15 percent, is among banks being targeted by investors because of its perceived dependence on short-term funding, according to analysts at Royal Bank of Scotland Group Plc.

http://www.bloomberg.com/news/2011-08-11/societe-generale-said-to-be-targeted-by-investors-over-short-term-funding.html