China local governments may risk insolvency in investment drive (Bloomberg): Editorial alert - apparently this headline was too risky, so Bloomberg promptly changed it to "China Investment Drive May Imperil Local Governments" Crudele: What did Paulson know and when did he know it? (Post) What the SEC might look like if it did its job (Bloomberg, h/t Kevin)
The government ponzi comes full circle: FDIC may borrow funds from banks (NYT) Fed effort to stoke growth may be undermined by "tight" credit (Bloomberg) Laffer: Taxes, depression and our current troubles (WSJ)