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News Sweep: July 8

The Federal Reserve: It would like this “economic recovery” thing to start moving a little faster.

State Street: Why is it the exception?

Hedge funds: They’re increasing their short exposure and getting precisely nowhere.

AIDS: Scientists have found some effective antibodies.

Karl Rove: His growth agenda for the GOP would keep Bush tax cuts intact.

BP: A stake in the beleaguered oil company might help sovereign wealth funds diversify. Or, it might take them down. Potato, potahto.
Related: BP is getting stricter with its claims. Because nickel-and-diming out-of-work fishermen is the perfect way to clean up its negative image in the Gulf perhaps.

John Paulson: His funds are down $2 billion due to redemptions, but do you think that scares the kind of investors who put their money with him? These guys are hard. as. nails.

Citigroup: Waging war against passive-aggressive email. Is this advisable? More than even money, passive-aggressive, harassing and threatening email is the currency of Wall Street.

Warren Buffett: Spends significant amounts of time surfing YouTube. If Berkshire Hathaway starts, say, investing in controversial businesses like giant squid-like investment banks or ratings agencies, you know who to blame….oh. Wait.

Goldman Sachs earnings estimates: When Dick Bove and Meredith Whitney stop being polite and start getting real.