Write-Offs: 07.20.11

$$$Obama Signals Openness to Short-Term Debt Extension (AP via NYT)

$$$Trading soars in Italy CDS contracts (FT)

$$$Moody's: AAA insurers could withstand U.S. downgrade (Reuters)

$$$Larry Fink to Investors: Stop Being Chicken (Deal Journal)

$$$450,000 to Get Payments in Countrywide Settlement (NYT)

$$$Goldman: debt ceiling debacle already hurting economy (FT Alphaville)

$$$Madoff Trustee May Drop $2 Billion in Claims Against UBS (Bloomberg)

$$$ Bethany McLean: Why aren't clients fleeing Goldman Sachs? (Slate)

$$$Tony James Moves Into Palace Of The Gods (NYO)

$$$Postmaster says days are numbered for Saturday mail delivery (USA Today)

$$$Canadians adopted seven dogs who’d eaten their owners’ remains (TWR via Heidi Moore)