Frontrunning: June 22

• Wallgreen's conference call: Consumers shopping closer to payday, saving more, using less credit
• Insiders apparently don't watch CNBC, don't smoke greenery, as they sell shares at fastest pace in two years (Bloomberg)
• The truth - Nobody has any idea what is going on: World Bank, Roubini see pain, IMF, Soros see recovery (Bloomberg and WSJ)
• And... World Bank cautions against recovery talk - does this mean 10 year sabbatical for CNBC (Telegraph)
• Once a $250 billion company, Nortel set to generate less than $2 billion for its assets in liquidation (WSJ)
• Absolute credit bubble peak: XM Sirius to sell $350 million in totally toxic garbage notes (WSJ)
• Things in Iran are getting worse (Bloomberg)
• More people talking their book (pretty much everyone these days): Richard Branson says BA may not survive recession, should not be saved (Bloomberg)
• Here comes Obamacare: If not Hillarycare then what (SSI)
• Brown Brothers Harriman: Inflate this (BBH)
• Bloomberg declares war on Albany (NY Post)
• It's time to end the grotesque fiscal bailouts and grapple with reality (Telegraph)
• How to get the Fed out of its box (WSJ)
• Weekly economic forecast (Wachovia via RCM)

With sincere gratitude to Filip and Kenneth for their generous donations