Some of the more interesting and important items for May 5th :

• Buffett: Tough times ahead of recovery – He is serious….
• Father of money market funds charged with fraud – Yikes…
• Bernanke’s GDP Prediction – Bernanke predicts GDP to increase by 2 percent next year and 4 percent by 2011.
• Opposition to the Uptick Rule – Mutual funds oppose the resurrection of the uptick rule.
• GMAC Posts $675 Million Loss as Rising Defaults Eclipse Gain in New Loans – No kidding…. Get money at 5% and loan it out at 0% never works…