For frustrated investors looking to justify the ban of credit default swaps (CDS), look no further than last week’s corporate bankruptcies of Canadian newsprint producer AbitibiBowater Inc. (ABWTQ) and U.S. shopping center developer General Growth Properties Inc. (GGP).

When it comes to the U.S. stock market right now, the story continues to be about earnings. And this week will be no exception.

Gold spent most of Far East and European trading hugging $890…and silver spent the same period within a dime of $12.70. Nothing to see here, folks! Then, shortly before the Comex open, both metals began smallish rallies…and half an hour after the Comex opened for business, it was lights out.

After months of speculation, General Growth Properties Inc. (GGP) filed the biggest real estate bankruptcy in U.S. history, ending a futile seven-month effort to refinance its debt.

General Growth Properties Facing Bankruptcy; Macy’s Cut Capital Spending 45%; Oil Futures Dip; China Retail Sales Soar; Yum Restructures; AB Shareholders Approve InBev Merger