“Investors are coming to the realization that, despite all the Fed’s efforts, the combination of deteriorating home prices, a beleaguered consumer and rising oil prices is going to bedevil the economy, stock prices and banks for months to come.”  (WSJ.com)

Skepticism reigns over the Treasury’s support of Fannie and Freddie.  (BusinessWeek.com, naked capitalism, EconLog)

Nationalization is still on the table.  (Market Movers also DealBreaker.com, Free exchange)

“The government’s involvement was precisely why any shareholder would have faith in Fannie and Freddie.”  (Deal Journal)

There will be more (and bigger) bank failures.  (Calculated Risk, NYTimes.com, also Infectious Greed)

Traditional credit will eventually begin to feel the heat of the credit crisis.  (FT Alphaville)

Deal:  BushBev, Not a Deal:  Microhoo.  (WSJ.com, ibid)

Apparently you can fight the Fed.  (Big Picture)

“Since bubbles are financial, it is hardly surprising that “speculators” are getting blamed for rocketing commodities prices.”  (breakingviews/WSJ.com)

Short sellers really hate the newspaper stocks.  (ClusterStock.com)

Why Google (GOOG) shouldn’t build a GPhone.  (Silicon Alley Insider)

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