Friday Links

Study: States must fill $1 trillion pension gap – AP
Discount-Rate Hike Signals End to Emergency Measures – Bloomberg
Bleak Economy Pushing Health Insurers to Raise Rates, Analysts Say – NY Times
Politics in America: What’s gone wrong in Washington? – Economist
Banks: We’ll give you money to save money – CNN/Money
Senate panel mulls watered down “Volcker rule” – Reuters
Wall Street’s Bailout Hustle – Taibbi, Rolling Stone
Debt-tastrophe – Hoenig, NY Post

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Oil falls to near $78 on US dollar rally – AP
Gold falls, reverses gain after Fed rate move – Reuters
Bank Profits Ready to Tumble, Stocks to Fall: Whitney – CNBC
Fed action lifts dollar, unsettles global stocks – Reuters
Gold futures drop as much as $19 an ounce – MarketWatch
Americans doubt their stock-market savvy: survey – Reuters

In Greece, the people carry on – Fortune
Asia Leads the Global End to Cheap Money – NY Times
Economists back Darling on delaying U.K. spending cuts – MarketWatch
Germany and the euro: Let the Greeks ruin themselves – Economist
China Still Set for Asset Bubble After Reserve Rise, CLSA Says – Bloomberg
More Chinese find homes priced beyond reach – MyDigitialFC
Sovereign-debt theories: Domino theory – Economist
Greece replaces head of debt management agency – AP

Mortgage rates fall to near-record lows – O.C. Register
In D.C., more evidence that CRE headed for foreclosure crisis – Washington Post
Short sales grow as a cheaper alternative to foreclosure – LA NY Times
How lenders decide whether to modify your mortgage – MarketWatch

Fed hikes discount rate buy not tightening policy – Reuters
Silver lining for stock futures’ post-Fed fall – MarketWatch
Fed challenge: Can markets handle a tilt toward tighter credit? – LA Times
Fed’s Next Step Is to Withdraw Liquidity: Meyer – CNBC

Don’t Fall For The Scam On Pages 60 and 61 – Consumerist
German luger chips a tooth biting his medal – Yahoo! Sports
After the Bubble, Beauty Is But Fleeting for Greenspan Portraits – WSJ
Which is Worth More – The House or the Marijuana Inside? – ZillowBlog