Write-Offs: 07.25.11

$$$Senate and House Still Far Apart on Debt in 2 New Plans (NYT)

$$$U.S. default could spark CDS confusion (Reuters)

$$$U.S. agencies look for credit rating alternatives (Reuters)

$$$IMF calls for US to raise debt ceiling and cut spending (BBC)

$$$Hoenig - Fed should raise rates from near zero (Reuters)

$$$At E*Trade, Morgan Stanley Is In; J.P. Morgan Is Out (Deal Journal)

$$$Mayor Emanuel’s Hedge Fund Helper (Crain’s via DealBook)

$$$Jim Rogers on a Possible Downgrade: The U.S. Already Has Lost AAA Rating (Deal Journal)

$$$BP Breakup Worth $100 Billion to JPMorgan as Investors Doubt Dudley’s Plan (Bloomberg)

$$$Russian bikini models in high heels wash cars -- for Putin (USA Today)