Some of the more interesting and important items for May 8th :

• Payrolls in U.S. Rise by Most in Four Years; Jobless Rate Climbs to 9.9% – Good and bad….
• Volcanic Ash Cloud Drifting Over Spain, Portugal, Irish Air Authority Says – This is starting to get out of hand….
• BP’s Oil-Capture Chamber Clogs, Forcing Removal From Leaking Gulf Well – Yikes. Not good…
• Qatar Holding Buys Harrods Department Store – There it goes….
• Who is Buying All The Gold (GLD)? – China and India
• Deal reached to drop $50 bln bank fund from reform – MarketWatch – Senate lawmakers on Wednesday voted to drop a controversial provision in broad bank reform legislation that would have created a $50 billion fund to help dismantle a large financial institution so that its collapse does not cause collateral damage to the markets.
• Schwarzenegger Drops Offshore-Drilling Support After Gulf of Mexico Spill – So short sighted….
• Greece Agrees to EU, IMF Bailout as Papandreou Sees `Big Sacrifices’ Ahead – Now the economy will not be able to recover at all