The sale to Canadian auto parts maker Magna International and its partner, Russian lender Sberbank is off. With bankruptcy now behind it, General Motors now feels confident it can proceed with Opel under the GM umbrella.
From the GM press release:
Given an improving business environment for GM over the past few months, and the importance of [...]

I will be on Canada’s BNN TV at noonish talking about finance: Banks and Buffett. It will be a casual discussion with the moderators Howard Green and Andrea Mandel-Campbell and one other guest, Brian Milner of the Globe & Mail.
Below are today’s links. Enjoy.

Hillary’s Ill Will Tour – Patrick J. Buchanan’s website
This is not the [...]

I will be out of pocket in the early morning. Back late morning for more news. I expect to update my thoughts on the UK TBTF situation.

Junk bond revival stokes credit bubble fears – Telegraph
I share these fears. (My post: http://bit.ly/4oK1wR)

Do Saudis have the clout to destroy NYMEX? – Telegraph
Still wondering why even after [...]

White House Will Not Be Told By The AP How Many Jobs The Stimulus Has Created – Dealbreaker
Funny.

Industrial output up 1.4% last month | The Japan Times Online
More bullish data in Japan.

What Exactly Is Going On In Finland? – Edward Hugh
As comprehensive a review as any out there.

Why three buses come at once, and how [...]

The Nationwide monthly index of house prices came in this morning showing a 0.4% bump in October from September. While this was less than last month’s 0.9% rise, it was the sixth consecutive month of price increases and it marked the first time in two years that house price in the U.K. were higher year-on-year. [...]

Finance and politics

New Name Floated In Geithner Replacement Talks – Dealbreaker
What up, bankster? Sorry, I know I said I wouldn’t be using that word but it’s in context and I had to say it. This will be the new Treasury lyrical theme.

FT.com – Galleon paid banks millions for ‘edge’
Proof the system is rigged. Goldman and [...]

Finance and Politics
All Debt is Not Created Equal: Government Debt is NOT the Same as Private Debt – Marshall Auerback
Must-read

Why rich college kids can sell dope and you can’t – Denver News
I have a slightly different take because I know that there have been a decent number of drug raids in the previously protected college [...]

The Norwegian central bank has hiked rates 25 basis points, making it the third central bank and first European central bank to do so since the global recovery process started.
The Financial Times says:
Norway’s central bank increased its key interest rate by a quarter point to 1.5 per cent on Wednesday – Europe’s first monetary policy [...]

Nouriel Roubini seems to think so. In remarks quoted via Bloomberg, he called the enormous increase in asset prices “the mother of all carry trades.”
Investors worldwide are borrowing dollars to buy assets including equities and commodities, fueling “huge” bubbles that may spark another financial crisis, said New York University professor Nouriel Roubini.
“We have the [...]

CyanogenMOD Hits Stable 4.2.1 Release, Reduces Home Screen Lag – Lifehacker
Very good hack

FT Alphaville – South Korea in a won-win situation
Ex-Morgan Stanley’s Stephen Jen is bullish

Helicopter Crashes Kill 14 Americans in Afghanistan – WSJ.com
Buried on page A11

Laptops Cited for Pilot Inattention – WSJ.com
Crossword puzzles, magazines and other diversions are more common.

ING Shows How Bank Dismemberment [...]