Jeff C. spotted this: IndyMac’s mortgage struggle . How does modifying a “liar loan” somehow magically make a semi-employed borrower credit worthy?
From John in Ohio: Is America still depression-proof? 
Reader MSB mentioned: The Shell Game – How the Federal Reserve is Monetizing Debt 
Oldest Swiss Bank Tells Clients to Sell U.S. Assets or Leave  (Thanks to DD for the link.)
Exit strategy? Fed’s Plosser: U.S. rate increases could be rapid . (A tip of the hat to Brenda C. for the link.) JWR’s comment: This is starting to remind me of the policies that created stagflation in the 1970s.
Karen H. sent us these three items: