$$$Italy Evolves Into E.U.'s Next Weak Link (NYT)

$$$Obama Urges ‘Largest Possible Deal’ on Debt (Bloomberg)

$$$California’s June Revenue Is $440 Million Above Estimates, Controller Says (Bloomberg)

$$$Bank of America, Morgan Stanley Touch Crisis Lows (Deal Journal)

$$$Ex-Goldman Director Can Pursue Case Against SEC (WSJ)

$$$Moody's Raises 'Red Flags' at 61 Chinese Firms (WSJ)

$$$Economists Finally Admit: We're Clueless About Jobs, Too (NetNet)

$$$Sergeant Sues Citi Over Home Foreclosure (WSJ)

$$$Credit Terms Improve in Shadow Banking System (RT Economics)

$$$Best Currency Forecasters Say Dollar Slump Over (Bloomberg)

$$$Foreign investors target US real estate (FT)

$$$What are gold fund outflows really saying? (FT Alphaville)

$$$Nomura Trader Fuchs Said to Plan Own $400 Million Hedge Fund (Bloomberg)

$$$Stun gun found on JetBlue plane (CNN)