Frontrunning: June 10

• Russia to swap Treasuries into IMF debt (Bloomberg)
• Citigroup exchange offer at the beginning of the end, just a few more months of 120% borrow rates (Bloomberg and WSJ)
• Fiat to close Chrysler deal, shares rise [supreme court justices don't mind fueling a bubble] (Reuters)
• Trade deficit swells - nobody is trading any more, market is reflating itself in a vacuum (Bloomberg)
• Miller Tabak: Inflation-Deflation (Big Picture)
• New York Times hires Goldman Sachs to sell Boston Globe (Boston Globe)
• John Paulson to invest $100 million in CBRE (WSJ)
• Oakland, CA ponders bankruptcy (Mish)
• Consequences have started to arrive (Delta Global)
• Consumers to enjoy high unemployment, low wages, high mortgages and $3+ gas: market luvin' it (FT)
• For US, a sea of perilous red ink, years in the making (NYT)
• TARP payback won't help consumers (Fortune)
• "Fear, Hope and Greed" (Raymond James)
• More on the TARP repayment (Credit Writedowns)
• Response to the market failure drones (Mises Institute)
• The CFO's cash dilemma (PIMCO)

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