The Fed’s first credit crisis lawsuit… who’s suing and why, AmEx, Fannie Mae unload more financial follies… government “fixes” problem with more taxpayer dollars, Chris Mayer with a credit crisis byproduct (and opportunity) that could affect the entire world, China announces big stimulus plan… so why did commodities fall? A hefty chink in Dubai’s armor, Plus, Dan Amoss with a once-favored investment theme due to be back in the spotlight soon

Here’s a curious development that may be worth watching: Bloomberg is suing the Federal Reserve.

Last week, we took a look at the Fed’s bulging $2 trillion balance sheet. And if you’re a long-suffering 5 Min. reader, you know our futile recounting of the weekly Fed lending programs… all the abbreviations and acronyms: TAF, TSLF, PDCF, CPFF, TARP, etc.

Well, the folks at

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POT: Citigroup adds Potash to their Top Picks Live list: - sell-off overdone - Reit Buy and $264 tgt.Friday data from the TFI showed that North American potash producer inventories fell by 10% MoM in July to ~1.0 mln tonnes (35% below the 5-year average).POT shares have suffered along with the rest of the materials/energy sector as global growth concerns mount. However, the market has failed to recognize that demand for grains rarely cycle (supply cycles though) and has shown little historical correlation with economic activity.Bottom Line – Citi believes the sell-off is overdone and at 7x core ’09 earnings, POT is discounting a far worse earnings scenario than fundamentals indicate.Notablecalls (as disted on NCN): I think POT will get a boost on this call. One to watch today.