Economics and Investing:

Ryan warns of financial collapse over debt, urges Congress to avert ‘moral failure’

Cypriot bank customers get fleeced: Europe Announces Stunning Bailout For Cyprus — Bank Depositors To Get Instant 10% Tax Before Banks Reopen This Week. (Beware, this could happen in other countries–even our own! Thanks to Andre D. and the other readers that sent this link.)

And, inevitably, we read: Cash machines emptied across Cyprus after savers learn 10 billion euro bailout agreement includes levy on all bank accounts. (Thanks to Tim R. for the link.)

Items from The Economatrix:

Housing Foreclosures Start To “Flare Up” Again

Private Equity Crash Could Trigger Next Wave Of Financial Crisis, Bank Warns

China Just Sounded The Warning Bell For What’s Coming Our Way