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Wednesday morning links
The Mess That Greenspan Made — TOP STORIES • 11th-hour votes on state budget fail - LA Times • California Misses Deadline to Avoid the Need for IOUs - Bloomberg • Ten or more face possible Madoff charges - Reuters • Program saves 60 percent of homes from foreclosure - Reuters • Mr. Sunshine? Ron Paul Wins Support to Audit Fed Reserve - Fox News • Treasury OKs 3 firms for mortgage relief program - AP • GM CEO makes case for bankruptcy asset sale - Reuters • Retired From G.M. at 54. Pensionless at 74? - NY Times ...

Gold Seeker Closing Report: Gold and Silver Gain Over 1% While Dollar Falls Back Off
GoldSeek.com — ... This Article Digg It! | | Source: GoldSeek.com The Metals: [image] Gold and silver saw slight gains in Asia and London before they jumped higher in morning New York trade and rose to as high as $946.25 and $13.862 by a little after noon EST before both metals fell back off slightly in the last hour or so of trade, but gold still ended with a gain of 1.57% while silver added 1.25%. Chinese Government Wants To Purchase Another $80 Billion Of Gold! Numismaster Mr. Sunshine? Ron Paul Wins Support to Audit Fed Reserve FOXNews Fair Treatment for Precious ...

Words from the (investment) wise July 5, 2009
The Big Picture — ... proposed regulatory overhaul, Paul said lawmakers want transparency. “‘If they give them a lot more power and there’s no more transparency, that’ll be a disaster,’ he said. “The bill would call for the comptroller general in the Government Accountability Office to audit the Fed and report those findings to Congress. The GAO’s ability to conduct such audits now is severely restricted.” Source: Judson Berger, Fox News, June 30, 2009. Telegraph: China’s banks are an accident waiting to happen ...

Audit the Fed Blocked by Senate Procedural Move
Mish's Global Economic Trend Analysis — In the House, Mr. Sunshine, Ron Paul Wins Support to Audit Fed Reserve. The feisty congressman from Texas, whose insurgent "Ron Paul Revolution" presidential campaign rankled Republican leaders last year, now has the GOP House leadership on his side -- backing a measure that generated paltry support when he first introduced it 26 years ago. Paul, as of Tuesday, has won 245 co-sponsors to a bill that would require a full-fledged audit of the Federal Reserve by the end of 2010. The bill would call for the comptroller general in the ...

Glenn Greenwald On Goldman Sachs Corruption And Washington Capture (Do NOT Miss This)
The Daily Bail — ... the beneficiaries of that credit.  Thus, even aside from the bailout money it directly received and the billions in bailout money which it indirectly received (through AIG), Goldman has had access to massive amounts of Fed lending in order to fuel its bulging profits.  That unimaginably enormous (though entirely secret) lending is, in part, what is behind the Ron Paul-sponsored bill to audit the Fed -- a bill that is now ...