Frontrunning: May 6

• Rick Americans default on luxury homes like subprime victims (Bloomberg)
• Fed seeks end to wall street lock over OTC derivatives market (Bloomberg)
• ADP provides some pre-market futures nudge (Reuters)
• Street deserves Chrysler medicine (WaPo)
• GM may post loss tomorrow ahead of June 1 bankruptcy deadline (Bloomberg)
• Hedge funds star in regulators' dreams (Bloomberg)
• Uncle Sam goes on a buying spree with Your wallet (Washington Times)
• Banks need fewer carrots and more sticks (WSJ)
• Despair and the vision of the new economy (24/7 Wall Street)

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