Saturday Readings

Zero Hedge

• Here we go: Geithner formally asks Congress to lift $12.1 trillion statutory debt limit, saying it could be breached as early as October, Amex Centurion happy to comply (Reuters)

  “It is critically important that Congress act before the limit is
  reached so that citizens and investors here and around the world can
  remain confident that the United States will always meet its
  obligations” – Tim Geithner

• Totally unrelated – psychopaths have faulty brain connections, scientists say (Reuters)
• Must read: Deleveraging the U.S. Economy (Comstock Partners, h/t Vince)
• Health debate turns hostile at town hall meeting (NYT)
• Healthcare critics make childish claims, Obama says (Reuters)
• The history of the stock market (Mint)
• CIT now considering secured bond swap for near-term maturities (DebtWire)
• Long suffering Finlay Jewelers files for bankruptcy, to sell assets (CoStar Group)
• TARP cop cites bailout lobbying (CNNMoney, h/t Lizzy)
• How to blow a bubble (Baseline Scenario)
• One man was target of twitter DOS hacker attack (NYT)
• Swine flu this fall: turbulence ahead (Science Blogs, h/t Paul)
• How tough is the SEC? (Boston.com)
• Primary drivers in AIG’s profitability:
  

  “Commenting on the second quarter results, AIG Chairman and Chief Executive Officer Edward M.
  Liddy said, “Our results reflect stabilization in certain of our businesses. The primary drivers
  of our positive second quarter results were reductions in net realized capital losses, primarily
  due to the decline in other than temporary impairments resulting from the adoption of new
  accounting guidance and improved market conditions“
  - thank you accounting voodoo and confidence game for creating a mega squeeze (h/t happy nietzsche)

• Helicopter hits small plane near New York (Reuters)

More articles from Zero Hedge….