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News Sweep: July 9

Flash crash: is the new SEC plan to limit orders to 10% of prevailing prices a way to kill liquidity?
Related: Major structural changes in the U.S. equity markets you must know.

Mortgage defaults: In Silicon Valley, the rich are walking away from their petite chateaus and Spanish-style McMansions.

The unemployment extension bill: What’s next.

No country for young women: a site for young female entrepreneurs.

Greece: Because no one pays taxes, and thus it has little revenue, it is cracking down on island villa auctions.

The economy: Henry Blodget puts together a chartpalooza explaining, in very small words and numbers, why the economy is tanking.
Related: curing the world’s financial ills in four easy steps.
Related: Perhaps the answer is experimenting with negative interest rates.
Related: Stephen Roach says there’s a 40% chance of a double-dip recession. Wheelbarrows and guns and canned food, folks.

The Russian spy swap: It’s completed, so presumably we can now just refer to it as “the recent unpleasantness.”

Twilight: Real estate investor Tom Barrack, confronted with a copy of Twilight on his yacht, became a total squeeing teeny fan, it turns out in a note to employees: “Here is my macho take — Stephanie Meyer is a total genius. As I flipped through the pages I was startled by the lack of detailed description of Bella and the surgical and illuminating development of Edward. As hard as I tried I could not really picture Bella, but I was grabbed by Edward’s character — gorgeous, super human, super strong, super fast and most importantly encompassing the wisdom of a 109-year-old man in the guise of a 17-year-old boy.” We’re guessing he’s Team Edward, then. Genuine kudos for keeping an open mind.

Goodbyes: This is my final News Sweep, and final day, as your cruise director here at Street Sweep. The talented Colin Barr will return on Monday to take his rightful place once again as your Street Sweep sherpa. I hope he is well-rested and highly recommend Montreal for the next vacation. Thank you to the great editors here and the intelligent commenters who always had something funny or interesting to say. I’ll still be contributing articles to In the meantime, so long, farewell, auf weidersehn, adieu.