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Illinois stuck in a ‘historic, epic’ budget crisis – chicagotribune.com Talk of major tax increases coupled with draconian spending cuts is building in Springfield (tags: Illinois govt_spending debt) Ritholtz on Bailouts, the Fed, and the Crisis | EconTalk | Library of Economics and Liberty Barry Ritholtz, author of Bailout Nation: How Greed and Easy Money … Read more

Pound Has Problems of Its Own – WSJ.com While experts debate the fate of Europe's crisis-racked currency, it appears the British pound may be heading for its own little nightmare. (tags: British_pound currency) More Often Than Not, the Insiders Get It Right – CNBC Corporate insiders are sending fairly positive signals about the market. When … Read more

How long can the U.S. dollar defy gravity? The only time the U.S. dollar ever took a serious shellacking in the marketplace, the wounds were almost entirely self-inflicted. (tags: U.S._dollar)

Greek PM says worst fears confirmed on economy | Reuters Greek Prime Minister George Papandreou told parliament on Friday, after a visit by EU economic inspectors, that the worst fears about Greece's economy had been confirmed. (tags: Greece govt_spending debt economy) EU Debt Crisis: Banks Bet Greece Defaults on Debt They Helped Hide – CNBC … Read more

Almost 10% of FDIC-insured banks called "troubled" – MarketWatch Driven by expanding problems with commercial real estate loans, the number of distressed banks in the U.S. rose to 702 in the fourth quarter, marking the highest level in 16 years, according to a report released Tuesday by the Federal Deposit Insurance Corp. (tags: banks commercial_real_estate … Read more