Market pulls back after rally
NEW YORK (Reuters) - Stocks fell on Tuesday as investors booked profits from the prior session’s rally, while falling oil prices weighed on shares of energy companies.

Oil prices rise to new intraday record
Oil prices rose to new intraday highs in Asia Tuesday on fears Turkey will pursue Kurdish rebels into Iraq and disrupt oil supplies in the region. A weakening U.S. dollar, low U.S. crude inventories and increased buying by investment funds also supported prices, analysts said.

Banks plan fund to revive market
The three largest US banks have announced a plan to buy up billions of dollars of troubled investments that lost value in the global credit crunch. The unusual move aims to boost confidence in the market for short-term and sub-prime debt, preventing a further sell-off of such investments. The fund, facilitated by the US Treasury, was announced by Citigroup, Bank of America and JP Morgan. The size of the fund was not disclosed, but reports put it at about $80bn.

Are we heading towards a 1929-like economic crash?
There are some alarming signals and trends that are making economists very nervous that we are hurtling towards another economic crash. On Friday’s Bill Moyers Journal, guests Robert Kuttner and William H. Donaldson spoke on the parallels they see, especially as it relates to the giant inequities brought on by under-regulated hedge funds.
Click through to watch the video.

Father of Mechanism Design Wins Nobel
Economist Leonid Hurwicz helped identify the fatal flaw in centrally planned economies, but the theory isn’t easy on capitalism, either