Some of the more interesting and important items for July 10th :

• Failure of a Fail-Safe Strategy Sends Investors Scrambling – WSJ.com – "Hi. My name is Carl, and I'm a recovering asset-allocationist," the Raymond James Financial adviser quipped.
• AIG Seeks Clearance to Release Bonuses – Nice fellas. Keep on asking an one day you will get what you want. ( just as soon as you keep it from public scrutiny) Maybe you should just from an off balance sheet company and pay through there. Look at the Enron playbook.
• Mortgage Firms Asked To Modify More Loans – Obviously there is a serious disconnect here. It has been shown clearly that forcing loan modifications only hurts consumers and postpones the inevitable. We need new idea!!!
• J.P. Morgan to Send Warrants to Market – Unbelievable. These firms gets SAVED by the Govy and now they are getting the lowest cost financing available in history and they are still complaining.
• Hedge Funds Little Changed in June, Drew $4 Billion (Update1) – Bloomberg.com – Hedge funds had net inflows of $4 billion in June as the index measuring their performance remained little changed after posting its longest stretch of monthly gains since July 2007, according to Eurekahedge Pte.
• FDIC Said to Be Unwilling to Guarantee CIT Group’s Debt Due to Credit Risk – A first! Now that is refreshing….
• Economic Report: Bank of Korea raises 2009 economic outlook – Korea looks strong, lets hope that this is more that simple posturing .