Lots of ground covered tday folks… Bonding schemes, 11 trillion treasury debt, Euro Dollar & Euro Dollar futures contracts, Derivatives, Rate of inflation, Next 2-3yrs very dramatic inflation and much more.

7 regional banks fail… State regulators shut down seven regional banks Friday, the Federal Deposit Insurance Corporation said, bringing the total number of banks to fail in the United States to 64 this year.

Foreclosure Inn … Luxury hotels are defaulting on their loans as the economy kills off business travel. But what is ailing the hotel industry is good for consumers as room rates fall.

Get ready for bankings next headache… U.S. banks hold some $1.8 trillion worth of commercial loans, according to Federal Reserve data. Big regional banks, including PNC (PNC, Fortune 500) of Pittsburgh, KeyCorp (KEY, Fortune 500) of Cleveland and BB&T (BBT, Fortune 500) of Richmond, Va., have more than half their loan books in commercial loans.

California lawmakers OK budget plan… California faced a nearly $3 billion shortfall for July alone, forcing the state to issue IOUs to some county agencies, state vendors and taxpayers. A deal worked out between Gov. Arnold Schwarzenegger and lawmakers earlier this week includes $15.6 billion in cuts to all parts of government, including schools, colleges, health care and welfare programs.

State budgets walloped again… Revenue shortfalls lead to new budget gaps only three weeks into the new fiscal year. States are forced to make more painful budget cuts. State legislators and governors had to contend with deficits totaling $142.6 billion as they closed out fiscal 2009, which ended on June 30 for 46 states, according to the conference. Three states have yet to pass balanced budgets for fiscal 2010, as officials tussle over painful budget cuts and tax increases.

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