Frontrunning: January 26

• IMF World Economic Outlook revises 2010 world GDP to +3.9% from prior estimate of +3.1%, world revenue growth revised ro 2.4% from 1.5% (Link to come)
• Fink or Blankfein: who is lying: "BlackRock indicated that Goldman Sachs might be willing to
  accept less money than it was entitled to under its AIG
  contracts because the bank hadn’t received all of the collateral
  it requested. Goldman Sachs’s van Praag said the firm was never open to
  anything less than full repayment and that it never indicated
  otherwise to BlackRock." (Bloomberg)
• AIG bail out investigations launched (BBC)
• It is time for Ben Bernanke to resign (Real Clear Markets)
• Goldman parachute awaits Geithner to ease fall (Bloomberg)
• Goldman Sachs, in cross hairs, mulls options (Reuters)
• Exercises in futility from the Administration: Obama calls for three-year freeze on some federal spending (Bloomberg)
• Paul Volcker has president's ear on economy (Post)
• All that massive stimulus is finally paying off: UK GDP grows by 0.1%, forecast at 0.4%(Bloomberg)
• Chinese banks rein in lending (WSJ)
• Davos too big to fail as bankers recoil in political backlash (Bloomberg)
• Congress is politicizing the Fed (WSJ)

Comments

[Careless Whisper]

Where's the morning European RanSquawk?

[bruce wayne]

Case-Shiller fell in November in spite of the tax credit.  Already ordering the popcorn for the December release...

[Anonymous]

Hey great news, we're going to reduce our fiscal year deficit by 1% by taking the ax to domestic spending items such as education.

How about we put an end to our military conquests around the world. How about we close down a few of the 700+ bases we've established in every fucking place imaginable. How about putting a stop to every insanely stupid pet project that our representatives come up with for their home states.

Nah, instead, lets now tax and spend abroad or spend it on bridges to no where, mouse research, and tennis courts... good stuff D.C.

[Tic tock]

How about we ask Bernak as his first order of business, to audit the Fed already.

You're Bankrupt, you know it, we know it, stop issuing money to pretend like it's there- you're destroying the global economy for what.. fear of high import prices, low cost homes?

So a few big banks cause a lot of derivitives to be thrown in the toilet. So what? Everyone's in the same boat.

It's not your system... it's an idea...

[Tic tock]

How about we ask Bernake as his first order of business, to audit the Fed already.

You're Bankrupt, you know it, we know it, stop issuing money to pretend like it's there- you're destroying the global economy for what.. fear of high import prices, low cost homes?

So a few big banks cause a lot of derivitives to be thrown in the toilet. So what? Everyone's in the same boat.

It's not your system... it's an idea...

[Tic tock]

Anyone want some e?

[chinaguy]

WTF happened to the Swiss Frank just now?