Morning Links…

S&P futures are slightly higher, but have come off their highs for the early session. I wish I could go through a full day and not have to talk about Europe, but unfortunately that day is still very far from reality. Italy’s borrowing costs continue to creep higher, as 3-year bond yields are a mere 11 basis points shy of 8%. There is literally no end in sight for this European debt crisis. Here at home, House Financial Services Committee top Democrat Barney Frank has decided to not seek re-election in 2012, leaving an important post vacant. Rumors have Maxine Waters taking over the position, which is perhaps the scariest thing I’ve heard in a long while. Back to corporate America, legacy airline carrier American Airlines has filed for Chapter 11 bankruptcy. Stocks look to open flat this AM after a solid rally yesterday. Best of luck out there, and on with the links…

  • Is the end of the Euro near? Really? (The Economist)
  • American Airlines files for Chapter 11. (Reuters)
  • Egan Jones downgrades Italy to junk status. (Credit Writedowns)
  • Ex-Treasury head gave hedge funds inside info. (Bloomberg)
  • Judge gets tough on S.E.C., rejects Citi settlement. (Dealbook, Themis)
  • Grantham: Corporate ‘earnings are unsustainably high.’ (Bloomberg)
  • Europe crisis tightens credit around the globe. (NYT)
  • Facebook looks for $100 Billion IPO. (WSJ)
  • A recipe for middle-class jobs. (WSJ)
  • Barney Frank won’t seek re-election. (Reuters)
  • Case-Shiller: Home prices decline in September. (Bloomberg)
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