ACT II: Moody's Downgrades Greece to Junk, Euro Wedge Break, BP Plunges, Market Tests 200-Day and Illinois Teachers Union Sold CDS?


Diversified Link Fest for 6/14/2010

Euro May Rise to 3-Week High on Wedge Break (Forecast Pte in Singapore) - BusinessWeek
Greece Cut to Junk by Moody’s on ‘Substantial’ Economic Risks (Ba1) - BusinessWeek
Euro Turmoil Sends Borrowers to Loonies, Francs: Credit Markets - Bloomberg
Japan’s Bonds May Rise as Greece Downgrade Boosts Safety Demand - Bloomberg
Interest rates rise despite Greece downgrade - Associated Press
61% Underfunded Illinois Teachers Pension Fund Goes For Broke, Sells Billions In CDS - ZeroHedge
Copper Drops for First Day in Six After Greece Is Cut to Junk - BusinessWeek
BP shares plunge as spill costs grow - Financial Times
Lawmakers to BP: Put up $20 billion escrow - CNN Money
Coffee at Two-Year High on Shortage Fears - WSJ
Starbucks Announces Free Wi-Fi, Proprietary Content Network - Wired
Spain sees credit squeeze, denies EU rescue bid - Reuters  h/t @gold_tracker
Bulls Heartbroken As Stocks Kiss 200-Day, Then Fail - CNBC Fast Money
News Corp. Prepares for Paid Online Content (Skiff) - NY Times Business
Trading in Film Futures Contracts Approved - NY Times Business
Kass: Black Swans Return -
The Crash of 1929 Documentary Video - HedgeAnalyst
Ron Paul's committee assignments and industry investments overlap - WashingtonPost
Forrester: Steve Jobs is wrong, GoogleTV will work - Fortune
Distressed CMBS Loans Now Returning Less Than Half Their Note Value - Costar h/t @mynurealtor
WaMu files new reorganization plan - Associated Press
Stocks Party Like It's 2009, but Soros Sees Ghosts of the '30s - Tech Ticker
Cash Flow for BP, but Investors Worry - New York Times
Florida Appraisers Ask to Cut Value of Gulf Property Hit by Oil - BusinessWeek h/t @mynurealtor