Moody's Considers U.S. AAA Cut, McConnell Wants 'Significant Entitlement Reform', S&P Cuts Thousands Of Munis, French CDS Explode Higher, SEC Subpoenas HFT Traders, Barney Frank Goes On Anti-Defense Offensive

Selected stories from around the web this morning.

• Stocks Trade Slightly Higher At Tuesday's Open
• Moody's Considers U.S. AAA Cut If Deficit Plans Go Soft
• Jim Rogers: 'I Don't See How U.S. Can Ever Pay Off Debts'
• McConnell wants 'significant entitlement reform' from Super Congress
• Rogoff Says Fed Should Embark on QE3, Act ‘Decisively’ on Economy
• Barney Frank Goes On Defense-Cut Offensive
• China says U.S. debt woes show MILITARY overreach - Reuters
• Grand Keynesian Policy Failure: Liquidity Traps and Financial Black Holes
• Trichet Turns ‘President of Europe’ as Debt Crisis Stuns Political Leaders
• Felix Salmon - Buy Stocks, Sell Bonds
• S&P Cuts AAA Ratings on Thousands of Municipal Bonds After U.S. Downgrade
• CHART OF THE DAY: French CDS Explode Higher
• FINALLY - SEC Regulators send subpoenas to high-frequency traders - Reuters
• One day late with payment, gas station owner could lose business to foreclosure

Comments

[DailyBail]

Money parked at ECB hits 2011 high

http://www.marketwatch.com/story/money-parked-at-ecb-hits-2011-high-2011-08-09

[DailyBail]

NEW YORK (MarketWatch) — Treasury prices fell Tuesday, sending yields up from the lowest levels since at least October, with bond traders focused on the Federal Reserve’s upcoming policy statement and the Treasury Department’s first note auction since the downgrade of the U.S. credit rating.

http://www.marketwatch.com/story/treasury-yields-rise-as-safe-haven-flows-unwind-2011-08-09

[DailyBail]

Business Braces for Belt Tightening

Lower Government Spending Could Ripple Across Industries; Create Opportunities for Some; Say Goodbye to 'Uncle Sugar'

http://online.wsj.com/article/SB10001424053111903454504576488374226108188.html?mod=mktw

[TR]

One day late with payment: Enjoyed what the judge had to say.

Those little handheld Texas Instruments calculators that the HFT's use can't out trade me.

DB, I've talked to everyone that visits The Daily Bail & we've decided to take you off "Site Probation" CONGRATULATIONS!!!
Now you can run this site without supervision. ROFLMAO!! STOP ME! SOMEBODY PLEASE STOP ME!

[DailyBail]

Help wanted: Energy firms competing for hires

Sector to create at least 200,000 new jobs, especially for engineers

http://www.marketwatch.com/story/help-wanted-energy-firms-competing-for-hires-2011-08-09

[DailyBail]

Gold settles at record $1,743 an ounce

http://www.marketwatch.com/story/gold-settles-at-record-1743-an-ounce-2011-08-09

[DailyBail]

Apple briefly passes Exxon as No. 1 market cap

http://www.marketwatch.com/story/apple-briefly-passes-exxon-as-no-1-market-cap-2011-08-09

[john]

Special Report: A little house of secrets on the Great Plains

http://www.reuters.com/article/2011/06/28/us-usa-shell-companies-idUSTRE75R20Z20110628

[snip]

The secretive business havens of Cyprus and the Cayman Islands face a potent rival: Cheyenne, Wyoming.

At a single address in this sleepy city of 60,000 people, more than 2,000 companies are registered. The building, 2710 Thomes Avenue, isn't a shimmering skyscraper filled with A-list corporations. It's a 1,700-square-foot brick house with a manicured lawn, a few blocks from the State Capitol.

UPDATE:

http://www.reuters.com/article/2011/08/09/us-usa-shell-wyoming-idUSTRE77854420110809

[S. Gompers]

Hey Mitch, your Congressional pension is an entitlement, S.S. is not. People paid into S.S. their entire lives while you elected vermin elected to continually borrow from it with no intent to repay.

Time to repay what you "borrowed", or check yourselves into club Fed...

[DailyBail]

Kansas returns health insurance exchange grant

http://www.reuters.com/article/2011/08/09/usa-health-exchanges-idUSN1E7781U720110809

[DailyBail]

Wisconsin Republican lawmakers hang on in recall vote

http://www.reuters.com/article/2011/08/10/us-wisconsin-recalls-idUSTRE7783VT20110810

[DailyBail]

Putin ready to pump cash into Russian market

http://news.yahoo.com/putin-ready-pump-cash-russian-market-180008249.html

[DailyBail]

Economic Uncertainty Leading to Global Unrest

http://www.cnbc.com/id/44073673

[DailyBail]

http://news.yahoo.com/photos/london-rioters-battle-police-1312703679-slideshow/riots-looting-continues-across-london-20110808-133424-558.html

London riot slideshow.

[Howard T. Lewis III]

Hey!! All you old and broken people out there!! Mister senator McConnell says if you don't put on a uniform and get out there and kill, you don't eat!! Now do you all want to go to prison or what??!! Your inefficiency is cutting into his mewling time!!!