Summary: Fed’s Bernanke jawbones at 10:00 AM local. ECB on the swap lines again, Greek jeopardy continues. After yesterday, I cannot get rid of a picture in my mind: Gaddafi’s Condoleezza Rice photo collection and W. Buffett playing ukulele in a bath tub thinking about BoA. With the below video playing (safe for work, as everything always here). You can help by leaving a comment during this time of great distress. Good luck and have a great weekend.
EURO CRISIS
Greece Activates Last-Ditch Liquidity Rescue Package – Zero Hedge
Greece forced to tap emergency fund – The Telegraph
ECB Taps Fed Dollar-Swap Line – MarketBeat WSJ
Charting The Deterioration Of Bank Self-Assessed Counterparty Risk Through 3 Month USD Libor – Zero Hedge
The European Dollar Funding Crunch Is Back: Fed Does Another $500 Million In USD Swaps This Time With The ECB – Zero Hedge
Is Merkel Worried EFSF Vote May Go Wrong Way? – The Source WSJ
ECB study says repo haircuts can help boost interbank lending during crisis
Life On PMI Cold Comfort Farm – A Fistful of Euros
FED WATCH
Bullet points on the interview and a link to the BB video interview
Also UBS’s comments
Here Are Wall Street's Expectations For Tomorrow, As Goldman Makes The Case For $1 Trillion In QE3 – Zero Hedge
What to Expect from Bernanke – the trader
5 questions Bernanke’s speech may answer – MarketWatch
FINANCIAL CRISIS
“information efficiency might be a necessary condition for bubble phenomena”
Efficiency and Stability in Complex Financial Markets – Infectious Greed
Dollar Watch – EconoMonitor
China’s Looming Debt Disaster – The Daily Beast
OTHER
ThemisTrading’s open letter on high frequency trading
Leuchtkafer Letter to IOSCO on HFT – The Big Picture
Fusion power: is it getting any closer? – Guardian