links for 2010-06-21

Golden State, like many others, is nearly bankrupt and desperately needs a bailout

Analysts believe that central banks could be net buyers of gold this year for the first time in nearly two decades.

BP Plc, the worst oil investment this year on Wall Street, is finding its backers in the City of London.

China’s signal of an end to the yuan’s fixed rate to the dollar may accelerate a shift toward domestic demand as the prime driver of growth as President Hu Jintao seeks to strengthen household incomes.

Fannie Mae and Freddie Mac took over a foreclosed home roughly every 90 seconds during the first three months of the year. They owned 163,828 houses at the end of March, a virtual city with more houses than Seattle. The mortgage finance companies, created by Congress to help Americans buy homes, have become two of the nation’s largest landlords.