Some interesting links for your reading pleasure:

• A Reading List for Following the Debt Ceiling Drama (Pro Publica) • Evaluating Hedge Fund Performance (SF Gate) • Bringing Sand Hill Road to Cyberspace (NYT) • Thomas Friedman: Make Way for the Radical Center (NYT) • Debt Crises, Real and Fake (Economix) • Dilberts Scott Adams: How to Tax the Rich (WSJ) • Republican Leaders Voted for Drivers of U.S. Debt They Now Blame on Obama (Bloomberg) Bruce Bartlett: Are the Bush Tax Cuts the Root of Our Fiscal Problem? (Economix) • Why Samsungs Galaxy Tab is meh (Guardian) • Fantagraphics to Publish The Complete ZAP Comix (Fantagraphics) • Exclusive: Inside Darpa’s Secret Afghan Spy Machine (Wired)

What are you reading?

Banks were the biggest decliners as European equities markets were mostly lower Monday after Moodys Investors Service again downgraded Greeces credit rating, this time by three notches to Caa1 just a few days after Fitch Ratings declared Greece to be in restricted default, and on the inability of US legislators to come to an agreement on the debt ceiling in the United States.

The FTSE 100 was down 0.16 percent to 5,925.26 in London, while the FTSE 250 dropped 0.29 percent to 11,786.2 as Barclays Bank (LSE: BARC) led declines in the banking sector and on the 100 with a decline of 4.44 percent, although Standard Chartered (LSE: STAN) managed to add 0.19 percent.

Lloyds Banking Group (LSE: LLOY) was down 4.3 percent on a media report that it is thinking about an initial public offering for 632 bank branches it had hoped to sell, but that it has only received two offers for.

Over on the 250, consumer electronics retailer Dixons Retail (LSE: DXNS) dropped 6.11 percent to lead declines on that index and in its sector, followed by a 4.43 percent decline for pubs operator Punch Taverns (LSE: PUB) to lead the travel and leisure sector mostly lower.

Although there were more loser than gainers in the mining sector, gold and silver miner Fresnillo (LSE: FRES) was up 2.86 percent to lead advances on the 100, while Dominos Pizza UK IRL (LSE: DOM) added 5.08 percent as one of the few gainers in the travel and leisure sector, making it the best performer on the 250 after it said half-hear profits were up by 15 percent.

There were no gainers at all in the insurance sector, while home builders and the telecommunications sector joined the banking sector in having only one gainer each, there were only two gainers in the chemicals sector and just three stocks advanced in the media sector, but the real estate sector was mostly higher with just three decliners.

The FTSE Eurofirst 300 was down 0.29 percent to 1,105.69 while the CAC-40 was 0.77 percent lower to 3,812.97 and the IBEX dropped 1.92 percent and saw only four gainers, but the Dax added 0.25 percent to 7,344.54.

Markets in the Asia-Pacific region were mostly lower Monday as US legislators remained unable or unwilling to reach an agreement regarding raising the debt limit there in order to avoid a default that could hurt the global economy.

The Nikkei 225 was down 0.81 percent to 10,050 in Tokyo, while the Topix index dropped 0.79 percent to 861.91 but the Mothers market managed to add 0.78 percent to 482.02 amid low trading volumes as utilities declined ahead of parliamentary vote scheduled for Tuesday on a bill that would require power companies to contribute to a compensation fund for victims of the meltdowns at the Fukushima Dai-Ichi nuclear facility in the wake of Marchs earthquake and tsunami, with Chubu Electric Power (TYO: 9502) down 1 percent while Tokyo Electric Power (TYO: 9501), the owner of the Fukushima plant, down 1.5 percent.

Heavy machinery manufacturers were lower after US company Caterpillar (NYSE: CAT) reported results that did not live up to expectations, with Hitachi Construction Machinery (TYO: 6305) down 1.5 percent while Kawasaki Heavy Industries (TYO: 7012) was 2.9 percent lower and Komatsu (TYO: 6301) dropped 3.1 percent, while carmakers and banks were also lower.

Elsewhere in the region Singapores Straits Times Index was down 0.36 percent to 3,171.55, the Hang Seng fell 0.68 percent to 22,293.3 in Hong Kong, the Taiex was 0.93 percent lower to 8,683.51 in Taiwan, South Koreas Kospi was down 0.96 percent to 2,150.48, Australias markets were lower as the Sydney Ordinaries dropped 1.5 percent to 4,603.8 and the SP/ASX200 fell 1.58 percent to 4,530.4, and the Shanghai Composite was 2.96 percent lower to 2,688.75.

The Sensex managed to add 0.8 percent to 18,871.3 in India.

New York equities markets were lower in early afternoon trade as the Dow Jones Industrial Average dropped 0.29 percent to 12,643.8 while the SP 500 was down 0.18 percent to 1,342.56 and the Nasdaq Composite was 0.05 percent lower to 2,857.36.

Crude oil prices were lower on concerns that demand will decline if US legislators cannot agree to raise the debt ceiling, causing a default by the United States, while the same concerns sent gold $10 higher at midday after trading at $1,624.30 per troy ounce, a new record, as investors looked for safe places to put their cash.

Silver was slightly higher, but copper prices had dropped slightly in New York trade.

Savings Accounts and Money Market Rates provided by 22 July 2011 The debate in the U.S. Congress over the debt, which has caused intense political polarization and has led experts to warn of a possible default on the debt by August 2, has not caused those with investments in 401(k) and other retirement plans to panic, according to the Casa Grande Dispatch.

At major 401(k) firms such as the Vanguard Group and Charles Schwab & Co, company representatives have claimed not to see any significant level of withdrawal from accounts on the part of their clients. Others, such as Profit Investment Management CEO Eugene Profit, feel that this will depend entirely on the progress of the debt debate. Read full post…

Before you start filling in your loan application, the Los Angeles Times has some advice you may want to consider.

So, whats the best way to get a small-business loan in this economic environment?

Business owners who have scored loans said one of the keys was preparation. Expect to explain and justify every aspect of your business. The days of just slapping down a three-year growth projection, real estate appraisal and down payment are long gone.

And dont be surprised by requests for additional data. Banks and other lenders will often ask for application revisions and additional information.

That was the case with Barbara and Greg Gerovac of Anaheim.

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Wall Street banking giant Morgan Stanley has today reported a rise in quarter two revenues – beating forecasts.

The US bank reported a 17% rise in revenues for the three months to the end of June totalling $9.3 billion (£5.7 billion) up from $8 billion in the same period a year ago.

However, the bank made a net loss of $558 million, or 38 cents per share, during the three-month period but this was much less than expected by analysts.

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HM Revenue Customs (HMRC) has today revealed a marginal rise in the number of homes sold in June in the UK.

According to HMRC, 73,000 homes worth at least £40,000 or more were sold in the month – 5,000 higher than May’s level of 68,000.

However, it is 12,000 lower than June 2010’s figure.

Today’s figures, along with other recent reports, suggest the housing market will remain subdued throughout 2011 due to economic uncertainty and ongoing mortgage restrictions.

Income Assure is a private insurance company that sells supplemental unemployment insurance so that you can maintain 50% of your income if you lose your job.

Though state unemployment systems are designed to replace 50% of former wages, benefits are capped at a relatively low fixed dollar amount. So, once you earn above a certain level, you do not reach the intended 50% wage replacement. Faced with a cash crunch, and without adequate salary replacement, displaced workers are often forced to make difficult choices and tradeoffs. Should I buy groceries or pay the utility bill? Will I default on my mortgage or delay retirement by dipping into my 401(k) account? Will I be able to help my child with college tuition?

IncomeAssure solves these problems. It is the first supplemental unemployment insurance policy of its kind in the U.S.

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