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New Rules Would Restrict Overdraft Fees on Debit Cards – The New York Times

Fed May Cause Next Crisis, Hong Kong’s Tsang Suggests – Bloomberg

“I’m scared and leaders should look out,” said Donald Tsang, chief executive of the city, said in Singapore today. “America is doing exactly what Japan did last time,” he said, adding that Japan’s zero interest rate policy contributed to the 1997 Asian financial crisis and U.S. mortgage meltdown.

ACORN Sues Over ‘Unconstitutional’ Funding Cuts By Congress – Fox News

Poorest Town In Illinois Suffers In Recession – CBS Chicago

Payton says the unemployment rate is 46 percent and the median income is just half the statewide figure. Payton says his goal right now is to create jobs in a place where businesses don’t seem to want to come, and the young people mostly want to leave.

“When they get out of high school, they’re leaving because there’s nowhere for them to work,” Payton said.

The Next Stimulus Package – Calculated Risk

Housing Agency’s Cash Reserves Down Sharply – The New York Times

Mish Unemployment Projections Through 2020 – It Looks Grim – Mish

Phoenix Housing Recovery? Not Really – Housing Doom

‘New Normal’ For Unemployment? – Angry Bear

Everyone in Britain could be given a personal ‘carbon allowance’ – The Telegraph