$$$Fed Stands Pat On Bond Buying [WSJ]

$$$“Now that Summers has pulled out, I think the president should choose Yellen,” Schumer said in response to a question at a news conference in Washington. [Bloomberg]

$$$This morning Goldman Sachs Chief Executive Lloyd Blankfein once again highlighted the close relationship between his firm and embattled hedge fund SAC Capital. “They’ve been indicted, they haven’t been convicted,” Blankfein said during an interview on CNBC. “We are a big liquidity provider, we’re a major prime broker. That would be a quite an existential decision for them if all the liquidity providers withdrew liquidity on the basis of an indictment which they’re contesting.” [BusinessWeek / Sheelah Kolhatkar]

$$$U.S. judge orders UBS unit in Japan to pay $100 million over Libor [Reuters]

$$$A Ryanair flight from Glasgow to Ibiza was forced to make an emergency landing in France after a group of drunk passengers started dancing in the aisles. [AP]

$$$Banks Warned On Cyberattacks [WSJ]

$$$As Budget Fight Looms, Obama Sees Defiance in His Own Party [NYT]

$$$100-Square-Foot Harlem Apartment Can Be Yours for $1,275 a Month [Daily Intel]