Morning Joe 7/16/2009

U.S. Jobless Claims Slump, Reflecting Timing of Auto Layoffs (Bloomberg)
Foreclosures rise 15 percent in first half of 2009 (AP)
CIT Calls Bailout Unlikely, Fuels Bankruptcy Concern (Bloomberg)
JPMorgan Profit Rises 36 Percent, Beating Estimates (Bloomberg)
Treasury Bets U.S. Financial System Can Weather CIT Collapse (Bloomberg)
China’s Economic Growth Accelerates to 7.9% on Loans (Bloomberg)
Talks fail to break California budget crisis (Reuters)
Commercial Real Estate crash would cripple U.S. Banks (Huffington Post)

Bank of America Corp - The biggest U.S. bank by assets said net charge-offs on its credit-card trust rose to 13.86 percent in June from 12.5 percent a month earlier.