Great pay!- Work for the government! – Rethinking Salary Constructs, Federal Pay Continues To Skyrocket – The Daily Bail

————

the real bailout – How to manage the gigantic financial cuckoo in our nest – By Martin Wolf – … This recovery has been no accident. When central bank money is almost free, prices of risky assets are recovering and competitors have disappeared or are weakened, making money is a relatively simple matter for the strong survivors. … – FT.com

————

Frank: No reasonable chance of consolidated bank regulator - By Ronald D. Orol -  There is “no reasonable chance” that legislators would create a consolidated super bank regulator, House Financial Services Committee Chairman Barney Frank told reporters Friday.  The Massachusetts Democrat reiterated his support for combining the Office of Thrift Supervision and the Office of the Comptroller of the Currency, but he opposed a proposal introduced by Senate Banking Committee Chairman Christopher Dodd, D-Conn., which would create a consolidated regulator made up of all bank regulators. – MarketWatch

————

U.S. Considers Reining In ‘Too Big to Fail’ Institutions - By STEPHEN LABATON – …
A senior administration official said on Sunday that after extensive consultations with Treasury Department officials, Representative Barney Frank, the chairman of the House Financial Services Committee, would introduce legislation as early as this week. The measure would make it easier for the government to seize control of troubled financial institutions, throw out management, wipe out the shareholders and change the terms of existing loans held by the institution. … – NY Times

————

Does it work? – Treasury, COP Square Off – BY JOHN CLAPP – … Specifically, the report wondered, does HAMP adequately address the changing dynamics of the foreclosure crisis (i.e., unemployment-driven foreclosures)? Will HAMP servicers be successful in converting a material percentage of those 500,000 trial mods into permanent ones? And how many borrowers whose loans are permanently modified will redefault? … – MortgageOrb

————

India Central Bank Begins Exit From Monetary Stimulus – By Cherian Thomas – India’s central bank took the first step toward withdrawing its record monetary stimulus as inflation pressures build, ordering lenders to keep more cash in government bonds. – Bloomberg

————

China may buy distressed US real estate assets – By Robin Trehan – …  The U.S., especially is having a financial meltdown due to multiple reasons — bad choices, high interest rates, no jobs, etc. The UK is also up there with real estate problems. More and more homeowners are being faced with foreclosures and a lot have already lost their homes. It is a devastating situation, not just for the country, but for the world as a whole.  China is looking to invest in the distressed real estate assets in the U.S., UK and Middle East. So far, the China Investment Corp, or CIC, is planning to use $2 billion of their $200 billion sovereign-wealth fund to fund the PPIP – Commodity Online