Economics and Investing:

Reader B.D. sent this: Spain Will Have to Cede Most Control of Banks: WSJ

Terry in Idaho recommended: The Libor Scandal: History’s Largest Market Fraud? Did someone say $800 trillion?

The future of futures is uncertain: PFG Collapses Amid Fraud Allegations

B.B. sent this over at Noisy Room: Nations will be Nations: ‘Euro Zone Fragmenting Faster than EU can Act’

21% sales tax! Spain Deepens Austerity Under European Pressure. (Thanks to K.A.F. for the link.)

Also from B.B.: Austerity, American Style: Scranton City Employees’ Wages Reduced to $7.25 per Hour – This Is Your Future America

A clash of generations – 1 out of 6 Americans receiving Social Security benefits. A larger share of workforce dominated by older Americans.

Items from The Economatrix:

LIBOR Scandal Latest Sign Of Financial System’s Rotten Core

Why Gold And Treasuries Are Losing Safe-Haven Status

US Stocks Fall On Earnings; Commodities, Euro Slump