Greece has accepted a 146 billion dollar bailout after negotiations with the International Monetary Fund, the European Central Bank, and the European Commission.

CNN Money

"Greece's national debt of 300 billion euros ($394 billion) is bigger than the country's economy, and some estimates predict it will reach 120 percent of gross domestic product in 2010." - CNNMoney

“Lyondell Chemical issued the fist covenant-lite loan since the financial crisis subsided. Senior editor Paddy Hirsch explains what a cov-lite loan is, and why their return could be bad for the economy.” -Marketplace.org

-WSJ Article on Cov-Lite Loans

New Home Sales Surged 27% in March

CNN Money Article:

Bloomberg Report:
Pressure on China to let its currency appreciate may have significant effects on businesses around the world.

"Citi today is fundamentally a very different company from what it was only two years ago," -Citigroup CEO Vikram Pandit

Citigroup profit more than doubled in the first quarter of 2010.

The Official 22 Page SEC Complaint Against Goldman Sachs (PDF FILE)

Goldman’s Response:

“The SEC’s charges are completely unfounded in law and fact and we will vigorously contest them and defend the firm and its reputation.”

Source: http://www2.goldmansachs.com/our-firm/press/press-releases/current/response.html

The timing of the SEC's complaint against Goldman Sachs has come under scrutiny, as congress is currently debating further regulation of the financial system. (CNBC)

Seeking Alpha Update: “The company (Goldman Sachs) lost money on the transaction in question; extensive disclosure was provided; ACA, the largest investor, selected the portfolio; and Goldman never represented to ACA that Paulson was going to be a long investor.” Source: Seekingalpha.com

This may be the first in a series of complaints filed against firms involved in the CDO market. (CNBC)

Goldman Sachs is set to release earnings next week.

NYU Professor and author Nouriel Roubini discusses his outlook on fed monetary policy in the coming years.

Wikipedia: Nouriel Roubini

Greek prime minister George Papandreou

Seeking Alpha: Greek Bailout Finalized

Guardian: EU Ministers Agree on Greek Bailout Terms

If you want to gain a better understanding of the financial meltdown, watch this documentary; it’s approximately one hour long.

James Chanos, founder of Kynikos Associates Ltd.

Hedge fund manager James Chanos sees a collapse in the Chinese real estate market within the next two years.

Bloomberg Article

BLOOMBERG

Today's ADP Employment Report was weaker than expected

The Street

USA Today

Senior editor Paddy Hirsch illustrates why the Federal Housing Administration has recently come under increased scrutiny for risky lending practices.

www.marketplace.org

Fannie Mae suffered losses due to “unemployment and continued defaults from many borrowers who owe more on their mortgages than their homes are worth.”

Source: WSJ

The government has agreed to absorb unlimited losses for the next three years and up to $400 billion after that for Fannie Mae and Freddie Mac.

Seeking Alpha’s Daryl Montgomery seems to think so.

“A number of economic reports in the last few days indicate that the U.S. economy has not only not failed to recover from the recession, but continues to fall deeper into a hole.”

Recently released employment data does not bode well for the housing market.

The Consumer Price Index rose 0.2 percent in January, while Core Inflation unexpectedly fell for the first time since 1982.

WSJ
Gaurdian

CPI rose 0.2% in January from the previous month on the back of higher energy prices -WSJ