Economics and Investing:

Greg L. suggested this Housing Storm piece: Is it too early to declare mortgage modifications a complete failure?

Reader HPD mentioned this commentary by Mish Shedlock: Collectively, Economists Are A Perpetually Optimistic Lot

Ukraine’s Naftogaz indicates default on bonds (Thanks to Danny S. for the link.)

The latest installment of the now predictable FDIC Friday Evening Follies: Three more banks go down. (Hat tip to Bill R. for the link.)

Items from The Economatrix:

Wall Street Money Rains on Senate, Especially Schumer

Governments Dip Deeper Into Alcohol-Tax Well

Shoppers Cash in on E-Coupons

Job Seekers Exceed Openings by Record

“Great Recession” Transforms the Workplace
. Most enduring change expected to be permanent loss of millions of jobs

Job Losses, Early Retirement Hurt Social Security
System to pay out more in benefits than collected in taxes over next two years

The Case For Inflation and Gold