EconoMonitor

Frontrunning: May 4

  • BofA and Citi in last push on stress tests, both plan to raise $10 billion in capital (FT)
  • General Motors bankruptcy probable as Obama favors UAW over bondholders (Bloomberg)
  • How big banks want to game the mortgage mess (WSJ)
  • Obama seeks to end tax haven rules that save companies $190 billion (Bloomberg)
  • E.U. says Europe faces deep recession, lowers growth forecast (NYT)
  • New York Fed chairman’s ties to Goldman raise questions (WSJ)
  • Major change in PPIP? FDIC may let investors buy toxic assets without treasury stake (Bloomberg)
  • Art prices at New York auctions expected to drop by 50% (FT)
  • Obama to secured creditors: Drop Dead (Real Clear Markets)
  • Only muscle cars will save Detroit (National Post)

Originally published at the Zero Hedge blog and reproduced here with the author’s permission.

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Aaron Menenberg is Foreign Policy and Energy analyst, and a Future Leader with Foreign Policy Initiative. He also co-hosts Podlitical Risk (@podliticalrisk). He is a graduate student in international relations at The Maxwell School of Syracuse University. Previously he has worked at Praescient Analytics, The Hudson Institute, for the Israeli Ministry of Defense, and at the IBM Corporation. The views expressed are his own, and you can follow him on Twitter @AaronMenenberg. He welcomes questions and comments at menenbergaaron@gmail.com.