Financial News Update – 06/21/10

GOP: Interior Department ‘Extorting’ Millions From Border Patrol

UPDATE: Millionaires Tax Plan Fails in NJ

Report: California on ‘Verge of System Failure’

This Chinese Yuan Move Should Be A Huge Wakeup Call To Tim Geithner

Morgan Stanley: Here’s What Happened To Currency Markets The Last Time China Revalued The Yuan

Rosenberg: Here’s Why The Yuan Revaluation Is A Distraction And A Sideshow

A Blistering Ride Through Housing Market Hell: 14 Reasons To Fear The Ongoing Bubble

12 Charts That Show The World Going Nuts For The Revalued Yuan

Niall Ferguson: This Yuan Revaluation Is A Sideshow

Remember How We Saved The Banks So They Would Keep Lending To The “Real Economy”?

Here’s The Problem With Paul Krugman’s Plan To Fix Our Massive Debt And Deficit Disaster

Why Gold Has Now Re-Emerged As A Global Currency

The Chinese Currency Adjustment Is A Classic Rope-A-Dope

Meredith Whitney: Unequivocally I See A Double Dip In Housing

Saudis Hoard Twice as Much as Thought

Stocks drop after China currency enthusiasm fades

Another ‘Flash Crash’ Coming? Some Market Pros Think So

US manufacturing crown slips (Hat Tip: Brian B.)

Chester, PA: A Philly suburb and microcosm of Detroit

Fannie, Freddie Could Cost $389 Billion

Forbes: Tricky Accounting Could Spark ‘Catastrophic Change’

West Struggles With Non-Recovery

China’s Hu Buys Time at G-20 With Yuan Announcement

Dems ready for big push on global warming

Medvedev’s U.S. Trip Boosts Effort to Reset Economic Ties

G-20 Needs to Emphasize Competition, Not Harmonization

$500 Hammers? U.S. Military Can Find Ways to Trim the Fat

Poll: Should BP have to pay for Obama’s moratorium?

DILLER: Planned Parenthood’s missing millions

Armey: Obama, Democrats Using Spill Crisis to Push Cap-and-Trade Agenda

Medvedev Promotes Ruble as World Reserve Currency to Cut Dollar Dominance (Hat Tip: Brian B.)

Obama’s Radical Labor Chief Says Illegals Have Right to Fair Wages

More Doctors Are Refusing Medicare Patients Because of Low Government Payments

Turkey Cuts Off Water Sales to Israel

Obama Porkway: Road Built With Stimulus Money Will Bear President’s Name

$70 million jail sits empty in Los Angeles – because LAPD can’t afford to staff it

California fails to deliver budget by constitutional deadline — again

State considering digital license plates – could display ads at red lights

New tax to push cigarettes over $10 a pack in NYC

New Jersey battles over tax on millionaires

More homeowners drop out of Obama mortgage program than are helped by it


Canada’s economy suddenly the envy of world

Germany Rejects Obama’s Call on Growth, Stoking G-20 Conflict


States Take Aim at Pension Costs

…Bank failure pace more than double last year

FANNIE AND FREDDIE tab 146B and rising; Foreclosed on home every 90 seconds

CBO: Middle Class — Not Rich or Poor — Pay Majority of Fed Taxes

Frank Seeks to Keep Debit-Card Fee Caps in Overhaul Bill

China Backs Obama as Treasury Holdings Rise to $900 Billion

London’s City Buys BP While Wall Street Flees Risk in U.S.


Venezuela Food Prices Skyrocket

‘Serious Market Problems’ in the Fall—Gold to Hit $2500

Spain: The New Crisis in Euroland

Food Prices to Rise Up to 40% Over Next Decade, UN Warns

Bank Run in Spain and its Destabilizing Ramifications for the Entire EU

Spain Plays High-Stakes Poker Game with Germany as Borrowing Costs Surge

Gold Rises as Euro Struggles, Share Prices Down

Spending Fable (The Mogambo Guru)

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