Links: Mauldin on Mortgages, Goldman's Outlook, Big Mac Index (Yuan Undervalued by 41%), Cotton at 140 Year High

Some reads... I'm watching the large, regional and community bank ETFs and indexes.

Copper Leads Decline in Metals as Dollar Rallies, China Inventories Grow - Bloomberg

The Subprime Debacle: Act 2 (and foreclosure, title, MBS crisis) by John Mauldin - Credit Writedowns

Goldman's David Kostin gives outlook on S&P and economy - Zero Hedge

Banks Shared Clients’ Profits, but Not Losses - NY Times

Flashback to 1870 as Cotton Hits Peak (at 140 Year High) - WSJ

Big Mac Index: Euro is overvalued by 29% (to the US Dollar), Yuan is 41% undervalued - Economist

Facebook CEO Mark Zuckerberg interviewed at YCombinator’s Startup School -

Pension Funds Flee Stocks in Search of Less-Risky Bets - WSJ

Auto industry's new math sends leases soaring - Automotive News

Internet ad revenues break records during first half of ’10 - IAB and PwC