The Scan for Friday, July 22

Receiving Wide Coverage ... Contemplating Disaster: Regulators are giving banks scant guidance on how to deal with a possible government default or downgrade, the Journal reports this morning. The big banks "are spending hundreds of hours on contingency planning scenarios," the article says. But without certain answers, it's hard to plan. For instance, "Fed officials haven't said if their collateral requirements would change after a default, which would affect banks' ability to borrow from the central...