S&P Warns Of U.S. Death Spiral, Obama's NEXT Bailout, Moody's Cuts Greece AGAIN, Banks Challenge $8.5B BofA Settlement, Unconstitutional SUPER Congress (LINKS)

Stories from around the web this morning.

WTF!? - 'Super Congress': Debt Ceiling Negotiators Aim To Create New Legislative Body

Who Holds America's Debt? - And How Much?

S&P: We Must Reduce Deficit - OR Face 'Death Spiral'

The Rich Gets 99% Of The Tax Breaks, While Deficit Is Everyone's Problem

Mike Pento: Debt Ceiling Myths

Moody's Cuts Greece 3 Notches - Says Bailout Means DEFAULT

Banks Challenge $8.5B BofA Settlement, Say They May Be Owed a Lot More - Yves Smith

So What Might Happen if We Get to August 3 With No Deficit Deal? - Yves Smith

Broke! 10 Disturbing Facts About The Financial Condition Of American Families

Obama's Next Bailout: Bankrupt States

2 Million 99ers Scream Hard Recovery for The Jobless

Goldman’s Lies of Omission - Janet Tavakoli

Billions in U.S. trucking funds reach Taliban, military-led investigation concludes

Former China Mobile Official Sentenced To DEATH In Bribery Case - NYT

PHOTOS - Fake Apple Store in China fools everyone - Including Employees

Comments

[DailyBail]

NEW YORK (MarketWatch) — Treasury prices fell Monday, pushing long-term bond yields up the most, as investors expressed concern that U.S. lawmakers have still failed to compromise on a deal to raise the debt ceiling.

http://www.marketwatch.com/column/bond-report

[Wil Martindale]

For what it’s worth call reports indicate $244 TRILLION in interest rate derivatives among the top 5 US Banks alone – the Too Big To Fails. This highly sophisticated operation is called “arithmetic” and it involves adding the 5 biggest numbers in the column. The OCC is only off by 44 trillion.

But who’s counting, as we approach the Great Acceleration?
http://letthemfail.us/archives/10016

[TR]

I'm sending my TAX BREAKS to the most needy of the RICH.

[DailyBail]

Great post Wil...enjoyed reading it.

http://letthemfail.us/archives/10016