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Overallotment: May 12

Submitted by Tyler Durden on 05/13/2009 03:24 -0400

US AAA credit rating at risk, former GAO director claims (Reuters)
GM sinks to fresh low as Chapter 11 looms (FT)
Social Security, Medicare will be depleted much earlier than expected (Bloomberg)
Airbus orders nosedive, profit tumbles (Daily Telegraph)
What foreclosures? After brand spanking new megaloss, Freddie Mac net worth is below $0 (FT)
FDIC planning for huge bank failure? (The Pragmatic Capitalist)
U.K. unemployment jumps to 13 year high (Daily Telegraph)
Taylor says Fed may not have much time before rate rise needed (Bloomberg)
US foreclosure program may be insufficient (FT)
AIG trustees should answer to taxpayers, not Fed (Bloomberg)
IMF urges stress tests on European banks (FT)