January 23 Early Headlines

• California blaming fiscal crisis on muni CDS traders (Bloomberg)
• Pfizer in talks to acquire Wyeth for $60 billion (WSJ)
• US-China trade tensions set to worsen on Geithner allegations (FT)
• Poaching Russian-style: via helicopter (Moscow Times)
• Infineon and European Insurance CDS in for tough day (FT Alphaville)
• Hedge fund assets to drop at least $450 billion (Bloomberg)
• Debenham's hires Lazard as restructuring advisor (FT Alphaville)
• NSA spied on everyone, targeted journalists (Rawstory)
• "Dear Jim..." - RBS analysts write back to Jim Rogers (FT Alphaville)
• Rubles down and out: Companies switch from rubles to "conditional units" (Moscow Times and Bloomberg)

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