Wednesday Papers: tips and comment

Financial Times

The Lex Column

* Obama tax breaks - mid-term elections drag forward raft of policy initiatives.

* European bank funding - sovereign credits cannot survive unless banks are recapitalised.

* Australian election - investors should pay more attention to the central bank, not politicians.

* Fannie/Freddie - the GSEs are still in limbo two years after conservatorship.

* Labour unrest - the unions have good reasons not to swerve first.

Lombard

* Diamond at the centre of banking’s crown - unpalatable meal of a job - Predictably unpredictable.

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