Top Interest Rate Headlines 11-21-2011: Obama vows to veto sidesteps to automatic cuts

Obama vows to veto sidesteps to automatic cuts
By Wallace Witkowski, MarketWatch
President Barack Obama vowed late Monday to veto any measure designed to override automatic budget cuts caused by the failure of a so-called congressional supercommittee to come up with a deficit-cutting deal. Obama said many Democrats were willing to make concessions to cut entitlement spending but chided Republicans for not listening to "reason" with regards to raising revenue. Earlier in the day, the supercommittee announced that it had failed to make any progress to agree on a deal to shave a $1.2 trillion deficit over 10 years.
http://jlne.ws/rxyHIz

Congress’s Deficit ‘Bomb’: Scary or Not?
By Naftali Bendavid, WSJ.com
In the end, the bomb just wasn’t scary enough.Congress’s deficit-cutting supercommittee, which is expected to formally admit defeat later this afternoon, was designed with a bomb that would go off if the panel failed to come up with $1.2 trillion in deficit cuts. That bomb was the threat of $1.2 trillion in automatic cuts, much of that coming from the military.
http://jlne.ws/rqee8y

S&P And Moody's Affirm U.S. Rating After Super Committee Fails
http://t.co/enkIOrRL

No deal for US 'super-committee'
http://t.co/bYfIhB79

Ex-Madoff trader pleads guilty to fraud
http://t.co/RYF2YSeI

France urges freeze on Iranian oil, central bank assets
http://jlne.ws/siMLoB

QE bar is high: Fed's Lockhart
http://jlne.ws/rqp6xk

Are big banks really changing their ways?
http://jlne.ws/vUDuG9

Moody’s warns on France’s triple A status
http://jlne.ws/vOF0pv

Wells Fargo, B of A and Other Big Banks Flee Reverse Mortgages, Leaving Industry Void 
http://t.co/qigb1Y6R

U.S. Could Be Facing Another Year of Uncertainty
http://t.co/vb98jrPA

U.S. Sued for $25 Billion Over AIG Takeover
http://t.co/1SuLwy84

San Francisco Fed: Forward Guidance Useful Monetary Policy Tool Even With Zero Fed Funds Rate
http://jlne.ws/v0t8vN

Next up for debt debate? The 2012 election
http://jlne.ws/vKBUe4

Trustee: MF Global Missing Twice As Much Money : NPR
http://t.co/lz2ffGJ6

SIGTARP Shuts Down Online Mortgage Modification Scams Advertised On YAHOO! And Bing http://jlne.ws/uFKZ5j

Soros: The ECB must step in to save the eurozone
http://jlne.ws/s5ZRbm

The Inflationary Consequences of ECB Bond Buying
http://jlne.ws/voADD2

ECB bond buying 2010 vs. 2011
http://t.co/9A2uEktN