This post provides links to a number of interesting articles I have read over the past few days that you may also enjoy.

• George Soros (Financial Times): Do not ignore the need for financial reform, October 25, 2009. It is not the right time to enact permanent reforms. The financial system is far from equilibrium. The short-term needs are the opposite of what is needed in the long term.

• Paul Sandison: The two main threats to democracy and modern capitalism, October 20, 2009. In the present burgeoning economic crisis, already well over a hundred million people across the globe have been thrown into poverty, despair, sickness and are struggling to avoid a premature death. Billions of people abroad are vowing never to allow the United States and the United Kingdom to do this to them again. The remaining question is whether the

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The Goldman Sachs Group Inc. (...

For Immediate Release

Chicago, IL – October 15, 2009 – Four free stock picks are being made available today on Zacks.com. The industry’s leading independent research firm highlights one Zacks #1 Rank Strong Buy or a Zacks #2 Rank Buy stock for each of the four main styles of investing: Aggressive Growth, Growth & Income, Momentum, and Value.

The four highlighted picks are: Discover Financial Services (DFS), Phillips-Van Heusen Corp. (PVH), Legg Mason, Inc. (LM) and Corinthian Colleges Inc. (COCO).      Today, Zacks is promoting its ''Buy'' stock recommendations. Four daily picks are offered free at http://at.zacks.com/?id=5607

Zacks #1 Rank Stocks have nearly tripled the S&P 500 since 1988, producing an average annual return of +26%. Performance has been notable even during volatile and down times. For example, during the last bear market, 2000-2002, the market tumbled -37.6% – but Zacks #1 Rank stocks gained +43.8%.

Here is

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Legg Mason, Inc. (...

State Street Corp. (STT) shares lost half their value on Tuesday after the world's largest institutional money manager reported a 71% drop in quarterly income. The company is suffering from unrealized bond losses and said it had already reviewed the possibility of raising capital.

In its fourth quarter, the parent of State Street Global Advisors' net income fell to $65 million, or 15 cents a share, from $223 million, or 57 cents, a year ago, as the volatile stock and bond markets eroded the value of customer assets. State Street also booked a $450 million charge for supporting some high-value funds. Excluding items, quarterly income was $1.18 per share, down from $1.38, last year.

Unrealized investment portfolio and commercial paper losses nearly doubled to $10 billion in the quarter. The company also pared down its financial guidance to forecast flat results for the current year. State Street booked a

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[The first of two parts analyzing the upside and downside of the Fannie Mae/Freddie Mac bailout. Part II appears tomorrow.] Many of the largest financial institutions - including banks, insurance companies and mutual funds - own huge blocks of Fannie Mae (FNM) and Freddie Mac (FRE) shares. Still, millions of investors who thought they were "safe" from this whole bailout mess because they didn’t own Fannie or Freddie directly might get blindsided anyway. The reason: These investors may have indirect ownership in one or both of the two mortgage miscreants, thanks to shares held in their mutual funds, 401(k) plans, pension funds or annuities. Let me explain. Since last year, both Fannie and Freddie have been the focus of much speculation, with analysts figuring the government would take over and "rescue" the beleaguered mortgage giants. As we’ve reported to you here in ...