Rentals Up, Sell S&P Options?, Jim Rogers, Robert Shiller, Marc Faber, Taleb, Kass (Action News, 7/28)

Quick news break, 24 links below for you to arb.

Schwarzenegger declares California fiscal emergency - Reuters

Goldman and Citigroup to sell $788.5 million CMBS - Reuters

Americans Tap $8.3 Billion in Home Equity, Least in a Decade - Bloomberg

Inventories glut, durable-goods drop sends oil lower - MarketWatch

Calculated Risk on 2nd Half Slowdown (6 Risks) - Calculated Risk

Equity Residential Profit Drops; Flat FFO A Pleasant Surprise - WSJ

Amazon Introduces $139 Kindle With Wi-Fi Amid Tussle With Apple - Bloomberg

MBA: Quarterly Commercial and Multifamily Originations Up 35% - Housing Wire

Foreclosures Rise in Three-Fourths of U.S. Cities in 2010 - Housing Wire

“ARE YOU KIDDING ME?” (Breakfast with David Rosenberg) - Pragmatic Capitalism

Apartment Rentals Surge in U.S. on Foreclosures, Jobs: Video - Bloomberg Video, Article

Flagstar reports jump in net losses for 2Q (FBC) - Crain's Detroit Business

UBS Says Sell S&P 500 Options Given Likelihood of Less Market Volatility - Bloomberg

Kass: Crosscurrents Aplenty -

China's Stocks Rally Will Wane on Inflation Outlook, HSBC's Mahendran Says - Bloomberg

Yale Professor/Economist Robert Shiller Still Worried About a Double Dip Recession Risk - Reuters TV Interview

US mortgage brokers to be fingerprinted, registered - Reuters

Home Vacancies Rise as U.S. Ownership Falls to Lowest in Decade - Bloomberg

VXX Calls Attracting Interest ($VIX) - VIX And More

Jim Rogers predicts a new recession in 2012 - Telegraph

Local Governments To Cut 500,000 People In 2010 And 2011, As $400 Billion Budget Shortfall Brings State Economies To A Halt - Zero Hedge

Ratings Understate `Dangerous' Chinese Local Government Risks, Dagong Says - Bloomberg

Marc Faber: Relax, This Will Hurt A Lot (says market won't hit new lows with current monetary policy) - Zero Hedge

Thoughts on Gold (GLD) - Morgan_03

Taleb: Government Deficits Could Be the Next 'Black Swan' - BusinessWeek

Treasury to hold conference on Fannie, Freddie Next Month - AP