Thursday Morning Links

TOP STORIES
Pay of Hedge Fund Managers Roared Back Last Year - NY Times
Fannie Delinquencies Reach All-Time High at 5.52% - Housing Wire
A special report on America’s economy: Time to rebalance - Economist
California Debt Beats Greece’s in Bond Sales: Credit Markets - Bloomberg
Three potential explanations for the continued fall in US savings rate - Credit Writedowns
Fiscal tightening and growth: A good squeeze - Economist
Greenspan to Testify on Subprime Mess - WSJ
Bill Black: Not Dead Yet - New Deal 2.0

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MARKETS/INVESTING
Oil rises above $84, extending 2-month rally - AP
Gold at 2-week high, PGMs rally on investment flows - Reuters
Bearish on bonds, and gold bugs bet on rebound - MarketWatch
The Coming Precious Metals Short Squeeze - Dollar Collapse
Manipulating Precious Metals Markets - Seeking Alpha
Expect a new peak for oil next year - Globe and Mail

ECONOMY
Jobless Claims Decreased Last Week to 439,000 - Bloomberg
Jobless Rate Will Stay ‘Unacceptably’ High: Geithner - CNBC
U.S. Standard of Living Unsustainable Without Drastic Action - Tech Ticker
The coming inflation wave - Fortune
Still disinflating - Economist

INTERNATIONAL
Europe shares hit 18-mth high on upbeat data - Reuters
Germany, current accounts and competitiveness - VoxEU
Chinese Output Accelerates, Boosting Global Recovery - Bloomberg
Pimco Sees Greece Action Ineffective; UK Downgrade - CNBC
Sovereign defaults do not typically lead to economic catastrophe - Economist
Easing of China rifts to pave way for yuan move - Reuters
Germany Readies Bank Tax for Future Bailouts - DealBook
Japan’s $15 Trillion Not Enough to Make It a Buy - Bloomberg

REAL ESTATE
Much of U.S. Was Insulated From Housing Bust - WSJ
How Texas avoided the worst of the real estate meltdown - Slate
Private Sector Mortgage Modifications Outnumber HAMP 2 to 1 - Housing Wire
Great Las Vegas Investment Properties…But Will They Rent? - Expert Click

FED/TREASURY/BANKING
NY Fed details assets bought for Bear Stearns, AIG bailouts - Washington Post
Lockhart: End to Fed MBS Purchases Should Be Calm - WSJ
Q&A: Curtain falls on Fed’s historic foray into housing - Reuters
How’s Goldman Sachs going to exploit this? - The Reaction

INTERESTING
Tin Can Tramp Was Stocks Genius With Fortune - Sky News
iPad Already Changing the Way Web Sites Are Built - LiveScience
Aus PM’s anger over Robin Williams ‘rednecks’ jibe - AFP
Bobcat walks in front door of Washington home - AP