KeNo's Housing and Economic Portal: October 2007

Tuesday, October 30, 2007

Wednesday October 31 Housing and Economic stories

Best sources of housing and financial news stories (with no spin):
· http://patrick.net/housing/crash.html (Patrick.net US Housing Crash Continues)
· http://www.bullnotbull.com/bull/
· http://www.prudentbear.com/
· http://www.safehaven.com/
· http://www.jasmts.com/readingRoom.php (Jim Shepherd Investment Strategist)
· http://globaleconomicanalysis.blogspot.com/ (Mish’s Global Economic Trend Analysis)

Housing and Economic News:

Stock Buybacks: A Good thing or slipped DISCs ... – Mish’s Global Economic Trend Analysis (10/30/2007)
The Litigation Scorecard - Mish’s Global Economic Trend Analysis (10/30/2007)
U.S. Consumer Confidence Fell More Than Forecast - Bloomberg (10/30/2007 09:38 AM)
Why Rate Cut Isn't a Sure Thing - WSJ ($) , Ip, (10/30/2007 05:08 AM)
Home Prices in U.S. Dropped a Record 4.4 Percent in Past Year, Survey Says - Bloomberg (10/30/2007 08:22 AM)
How a Fed cut may backfire - N.Y. Post (10/30/2007 08:32 AM)
Paulson committed to strong dollar – (right) CNN/Money (10/30/2007 10:45 AM)
What will World War IV cost? - Market Watch from Dow Jones (10/30/2007 10:57 AM)
The $915B bomb in consumers' wallets - CNN/Money (10/30/2007 11:13 AM)
Presidential candidates dodge silver tsunami - FT (10/30/2007 09:29 PM)
Workers facing higher '08 health costs - Dallas Morning News (10/30/2007 04:53 AM)
Rush for municipal Wi-Fi runs out of steam - AJC.com (10/30/2007 08:41 AM)
Countrywide CEO: More trouble ahead for housing market - USA Today (10/30/2007 05:35 AM)
Perceived as safe, some money-market funds take chances to boost yield - Boston Globe (10/30/2007 04:55 AM)
Three bearish signs - TheStreet.com , Kass, (10/30/2007 08:39 AM)
Private equity widens search - FT (10/30/2007 09:35 PM)
The New Rushmore: Commodities - WSJ ($) (10/30/2007 05:12 AM)
Fitch to Downgrade CDOs - WSJ ($) (10/30/2007 05:13 AM)
Australia Cuts Wheat Crop Forecast for Third Time - Bloomberg (10/30/2007 05:30 AM)
CEOs see falling home prices and mounting foreclosures - LA Times (10/30/2007 04:44 AM)
UBS Reports SF830 Million Loss on Debt Writedowns - Bloomberg (10/30/2007 05:15 AM)
Beazer buys breathing room in battle with creditors - AJC.com (10/30/2007 08:40 AM)
New wave of job cuts hits health care - Reuters (10/30/2007 05:13 AM)
O'Neal Writedown Erased 20% of Equity, Earnings From Debt Boom - Bloomberg (10/30/2007 05:15 AM)
Swedish Riksbank hikes repo rate to 4.00 pct from 3.75 pct - Forbes (10/30/2007 06:01 AM)
UBS fears credit crunch may last into 2008 - UK Times (10/30/2007 05:38 AM)
Japan’s lenders feel the subprime pinch - FT (10/30/2007 09:23 AM)
German jobless falls below 3.5m - FT (10/30/2007 09:32 PM)
Pundit Rogers sees ‘incipient bubble’ in China - FT (10/30/2007 09:40 PM)

Mukasey: "If the President does it, it is not illegal..."In 1947, The US Government was Clear: Waterboarding = Torture (When it was done against US Citizens)The Government Pretends to Pay Them, and Troops in Iraq Pretend to Patrol Stocks Wait on Wednesday Fed Decision In the mean time...NYSE ELIMINATES TRADING CURBS!The Federal Reserve: Legalized Counterfeiting Dr. Bernanke, The Solution is the Problem!History's Warning About the Price of Money If Merrill is the Tip of the Iceberg, Who is the Titanic?
U.S. house prices fall for eighth straight month (money.cnn.com)
House price drop worst since June 1991 (news.yahoo.com)
House prices falling at record pace in August (marketwatch.com)
House Prices Continue Descent (thestreet.com)
An update to the Case-Shiller house price index (themessthatgreenspanmade.blogspot.com)
Fires out, California housing still burns (reuters.com)
Builders Pay $1.4M in Title Case (biz.yahoo.com)
America's Big, Fat Housing Inventory (biz.yahoo.com)
Junk mortgages under the microscope (money.cnn.com)
Yves Smith Talks the Mortgage Market Mess (blownmortgage.com)
Financial Instability and the Federal Reserve as a Liquidity Provider (federalreserve.gov)
M-LEC Superfund (researchrecap.com)
Forclosures Hit San Mateo, CA (sanmateodailynews.com)
Shylocks and Village Idiots (wallstreetexaminer.com)
Taxable Property Value Ahead Of Realty (patrick.net)
Increasing US Vacant Housing (housingbubblebust.com)
Merrill Lynch's O'Neal Departs With $161.5 Million (bloomberg.com)
California Housing Not Supported By Fundamentals (irvinehousingblog.com)
Subprime Problems Continue To Climb, Key Indexes Show (money.cnn.com)
Nation's Building News Online for October 29, 2007 (nbnnews.com)

Monday, October 29, 2007

Tuesday October 30 Housing and Economic stories

Monday October 29 Housing and Economic stories

Flashback(s) of the Week:
Bernanke: There's No Housing Bubble to Go Bust – Washington Post (Thursday, October 27, 2005; Page D01) – Thanks to Mish
USATODAY.com - Greenspan says ARMs might be better deal – USA Today (Posted 2/23/2004 11:39 AM )
http://www.youtube.com/watch?v=f5zAvh-iFfU - Cramer’s comments from November 15 2006. And people think this insider is smart. He makes money when times are good, then wants bailouts when he loses money.
http://www.youtube.com/watch?v=SWksEJQEYVU – You have all heard this already, but Cramer ranting about the Fed needing to bailout his hedge fund and investment bank buddies in the Hamptons after they have been pocketing millions the past 5 years.

Best sources of housing and financial news stories (with no spin):
· http://patrick.net/housing/crash.html (Patrick.net US Housing Crash Continues)
· http://www.bullnotbull.com/bull/
· http://www.prudentbear.com/
· http://www.safehaven.com/
· http://www.jasmts.com/readingRoom.php (Jim Shepherd Investment Strategist)
· http://globaleconomicanalysis.blogspot.com/ (Mish’s Global Economic Trend Analysis)

Housing and Economic News:

The Con That Turned the World Against America (thetrumpet.com)
Mosquitoes move in on foreclosures – Contra Costa Times (10/26/2007 03:03:39 AM PDT)
As the Subprime Turns PF - John Mauldin
You Want to Know Why You Feel Like You are Struggling Financially? PF - Robert McHugh
UN: Final Wake Up Call; Humanity's Survival at Risk * Oil: $92! * - (www.bullnotbull/bull)Japan Now Paying for Iran's Oil in Yen - (www.bullnotbull/bull)
A mere 15 percent of Iran’s oil income is now being paid in the dollar. The biggest part of Iran’s income (65 percent) from crude exports is in euros. The yen payments account for 15 percent of Iran’s oil income.
AIG May Take $9.8B Subprime Hit - (www.bullnotbull/bull)
BOA to Cut 3,000 - (www.bullnotbull/bull)
Homebuilders: The Worst is Still to Come - (www.bullnotbull/bull)
Bill Gross: Fed Likely to Cut to 3.75% - (www.bullnotbull/bull)
NYT: Mixed Economic Picture Before Fed Meeting - (www.bullnotbull/bull)
Gold Rises to 27-Year High on Crude Oil Rally, Dollar Weakness - Bloomberg (10/28/2007 08:40 PM)
Crude Oil Rises to Record on Turkey-Iraq Tensions, Nigeria - Bloomberg (10/28/2007 08:41 PM)

Fed concern at expectation of rate cut - FT (10/28/2007 08:18 PM)
Wall Street Awaits Fed's Rate Decision - AP (10/28/2007 05:22 PM)
A Half, a Quarter or None? - NY Times (10/28/2007 05:27 PM)
Economists Fear Weak Demand For Homeownership Will Fester - USA Today (10/28/2007 09:29 PM)

CDO Ratings Are Whacked By Moody's - WSJ ($) (10/28/2007 09:30 PM)
Stressed US borrowers use plastic to delay default - Reuters (10/28/2007 05:27 PM)
Third-quarter venture capital $73.3 - Minn ST (10/28/2007 09:21 PM)
Banks rethink relationships with mortgage brokers - Orange County (10/28/2007 09:23 PM)
Bond Raters Get Subpoenas - USA Today (10/28/2007 09:34 PM)
Signs Point to Pressure on Stocks As Fed Weighs Another Rate Cut - WSJ ($) (10/28/2007 09:25 PM)

Merrill CEO Stan O'Neal Decides to Leave, WSJ Reports - Bloomberg (10/28/2007 05:22 PM)
Chances recede of Ford sale by family - FT (10/28/2007 08:58 PM)
FedEx increasing air shipping rates by average of 4.9 percent - San Diego UT (10/28/2007 09:17 PM)

House price gloom as the wealthy turn away - UK Times (10/28/2007 08:42 PM)
Official pay figures may underplay rise - FT (10/28/2007 08:51 PM)

Foreclosures in Bay Area, statewide hit record highs in 3rd quarter (sfgate.com)
SF Bay Area at risk of wildfires (sfgate.com)
Median sales prices down 41.6% in town near Merced, CA (modbee.com)
California foreclosures soar to new heights (centralvalleybusinesstimes.com)
No end in sight for housing slump (csmonitor.com)
For sale: 2 million empty houses (money.cnn.com)
A new low in new house sales (norris.blogs.nytimes.com)
Financial markets Spooking investors (economist.com)
House of Pain: Why Failure Is Important (tcsdaily.com)
Mortgage Bond Guesstimates Won't Cut It Anymore (nytimes.com)
That Hissing Sound (nytimes.com)
Some housing pictures (krugman.blogs.nytimes.com)
Credit chaos to force fresh US rate cut (observer.guardian.co.uk)
Fed likely can't help housing (lansner.freedomblogging.com)
ountrywide's Mortgages: They Can't Really Change A Thing (cnbc.com)
Why you can't afford a house (articles.moneycentral.msn.com)
Motivated folks only (latimes.com)
Bush Backs Investment Banker Bonus Bailout (avantnews.com)

Friday, October 26, 2007

Friday October 26 Housing and Economic stories

RECOMMENDED READING:

Foreclosure Suicide (chron.com)
This is the 2nd or 3rd Foreclosure suicide story I have seen in recent weeks.

Ameriquest in Shambles; Wealthy Founder Parties as U.S. Ambassador (blogs.abcnews.com)
Roland Arnall is the U.S. Ambassador to the Netherlands and billionaire owner of Ameriquest, which was once one of the United States's leading wholesale sub-prime lenders. In early 2006, the company announced a $325 million settlement with state attorneys general and law enforcement agencies and financial regulators in 49 states and the District of Columbia over allegations of predatory lending practices. Ameriquest faced allegations that, among other things, it misled and overcharged borrowers, and falsified loan applications. In the 2003-2005 period, Arnall and his wife raised more than $12 million for George W. Bush's political efforts, including $5 million for the Progress for America Voter Fund, a self-proclaimed "conservative issue advocacy organization dedicated to keeping the issue record straight."
Mrs. Arnall also served as a co-chair for the 2004 Republican Convention and hosted a $1 million Bush-Cheney fund-raiser at the couple's 10-acre home in Holmby Hills, California. After Bush was reelected, The Arnalls contributed another $750,000 for inaugural balls in January 2005.
On August 1, 2005, Bush nominated Arnall to become the U.S. ambassador to the Netherlands. The senate approved his nomination on February 9, 2006.

Who owns and controls the Federal Reserve Bank – (http://www.usagold.com/federalreserve.html)
Nothing shocking here, but is there anyone who doubts why Paulsen (Ex-CEO of Goldman Sachs and current Treasury Secretary) and Helicopter Pilot Ben Bernanke (Fed Chairman) could care less about the housing crisis until it started affecting the big Wall Street banks?
Each of the twelve Federal Reserve Banks is organized into a corporation whose shares are sold to the commercial banks and thrifts operating within the Bank's district. Shareholders elect six of the nine the board of directors for their regional Federal Reserve Bank as well as its president. Mullins reported that the top eight stockholders of the New York Fed were, in order from largest to smallest as of 1983, Citibank, Chase Manhatten, Morgan Guaranty Trust, Chemical Bank, Manufacturers Hanover Trust, Bankers Trust Company, National Bank of North America, and the Bank of New York (Mullins, p. 179). Together, these banks owned about 63 percent of the New York Fed's outstanding stock. Mullins then showed that many of these banks are owned by about a dozen European banking organizations, mostly British, and most notably the Rothschild banking dynasty. Through their American agents they are able to select the board of directors for the New York Fed and to direct U.S. monetary policy. Mullins explained,
"The day the Federal Reserve Act was passed (in 1913 during xmas recess), "the Constitution ceased to be the governing covenant of the American people, and our liberties were handed over to a small group of international bankers" Eustace Mullins (1983)

Paulson 'handcuffed' by White House – (ft.com)
Prevented from further subprime intervention

Subprime anxiety hits top index – (ft.com)
Writedown fears sends ABX sliding

TOP STORIES:
(from www.prudentbear.com )
New-home sales rise 4.8% in September - Market Watch from Dow Jones (10/25/2007 10:11 AM)
or is it J - depends on who is spinning the story
Home sales plunge in September - SF Gate (10/25/2007 05:53 AM)
New US home sales at historic lows – (ft.com)
Sales rise after earlier downward revision
Mortgage rates fall to lowest level in six weeks– (usatoday.com)
Roots of credit crisis laid at Fed's door - Market Watch from Dow Jones (10/25/2007 05:42 AM)
Reports Suggest Broader Losses From Mortgages - NY Times (10/25/2007 05:27 AM)
Floyd Norris: When risk becomes a shell game - IHT (10/25/2007 05:48 AM)
Investors blinded by derivatives boom - TheStreet.com , Kass, (10/24/2007 09:04 AM)
Buffett Sees Subprime Woes Lingering - Chicago Tribune (10/25/2007 05:00 AM)
Lenders Curb New Mortgages In Weaker Areas - WSJ ($) (10/25/2007 05:16 AM)
Pioneer Helped Merrill Move Into CDOs - WSJ ($) (10/25/2007 05:19 AM)
Buffett sees dollar weakness - Reuters (10/25/2007 05:37 AM)
Merrill writedowns may signal broader risk problems - Reuters (10/25/2007 05:40 AM)
Subprime Foreclosures to Hit 2 Million, Schumer Says - Bloomberg (10/25/2007 02:20 PM)
Subprime anxiety hits top index - FT (10/25/2007 08:59 PM)
4,800 subprime Bay Area loans at risk of foreclosure by 2008 - SF Gate (10/25/2007 05:50 AM
Fresh fall in loan approvals for home buying - FT (10/25/2007 09:15 PM)
German Business Confidence Declines to 20-Month Low - Bloomberg (10/25/2007 05:20 AM)
'We are headed for billions in lost wealth' - UK Guardian (10/25/2007 02:16 PM)
Ken, We've ALL Had Too Much Investment Bank `Fun': Mark Gilbert - Bloomberg (10/25/2007 05:25 AM)

Housing Crash News (from http://patrick.net/housing/crash.html )

Fri Oct 26 2007House sales plunge in September (sfgate.com)
Where Was The Bubble: Houses, Rates or Credit? (seekingalpha.com)
House Sales Fall More Than 20 Percent, Prices Plummet (efinancedirectory.com)
Why we need a recession -- soon (articles.moneycentral.msn.com)
The Way to Paradise? (counterpunch.com)
Subprime Blame Game: Where Were the Realtors? (knowledge.wharton.upenn.edu)
Problems at Countrywide Deepen (seekingalpha.com)
How Dumb Is Your Bank? (time.com)
Bank of America quits wholesale mortgage business (news.yahoo.com)
Buffett: Subprime to cause pain for up to 2 years (money.cnn.com)
REITs See Biggest Drop Since 1998 as U.S. Rout Grows (bloomberg.com)
Reports Suggest Broader Losses From Mortgages (nytimes.com)
Economist: Home prices haven't 'come down enough' (audio - marketwatch.com)

Thursday, October 25, 2007

Thursday October 25 Housing and Economic stories

Thursday October 25 2007 – Housing and Financial News

Foreclosures 'like a cancer' for some communities – (twincities.com)
http://www.twincities.com/business/ci_7272200 – (twincities.com)
Merrill Lynch Swings to Loss on Huge Mortgage Hit – (Bullnotbull.com/bull)
Countrywide Financial REO's Off the Charts! – (Bullnotbull.com/bull)
Junk Bonds Getting Junkier – (Bullnotbull.com/bull)
U.S. Economy: Existing Home Sales Tumble 8 Percent - Bloomberg (10/24/2007 11:27 AM)
Finished vacant homes abound across Atlanta region - AJC.com (10/24/2007 09:06 AM)
Schwarzenegger Discipline Shattered by Subprime Slump - Bloomberg (10/24/2007 11:32 AM)
Q3 OC auto sales plunge 15% - Orange County (10/24/2007 05:17 AM)
SIV Situation: Will Rescuers Arrive in Time? - WSJ ($) (10/24/2007 05:18 AM)
Investors blinded by derivatives boom - TheStreet.com , Kass, (10/24/2007 09:04 AM)
Hedge funds are still a draw - LA Times (10/24/2007 04:57 AM)
Insurance claims could haunt houses - LA Times (10/24/2007 05:13 AM)
Merrill swings to loss on huge mortgage hit - Market Watch from Dow Jones (10/24/2007 07:02 AM)
Countrywide's New Scare - WSJ ($) (10/24/2007 05:04 AM)
Merrill Lynch Ratings Cut by S&P, Outlook Negative - Bloomberg (10/24/2007 11:16 AM)
Ambac Posts First Loss as Subprime Bond Prices Drop - Bloomberg (10/24/2007 11:17 AM)
Bank of America Cuts 3,000 Jobs, Shakes Up Management - Bloomberg (10/24/2007 06:50 PM)
Pulte Reports Loss on Writedowns, Tumbling Home Sales - Bloomberg (10/24/2007 06:51 PM)
Countrywide to Help Restructure Loans: Morgenson - NY Times (10/24/2007 04:51 AM)
Wal-Mart Says Sales Growth Will Slow - Chicago Tribune (10/24/2007 05:04 AM)
Centex loss deepened to $644 million in first quarter - Dallas Morning News (10/24/2007 05:07 AM)
American Airlines' pilots union seeks 53% pay raise - AJC.com (10/24/2007 09:07 AM)
Merrill Lynch to Report $2.5 Billion in Added Loss - NY Times (10/24/2007 04:50 AM)
Amazon.com Shares Decline on Fourth-Quarter Profit Forecast - Bloomberg (10/24/2007 05:04 AM)
Citigroup SIV Accounting Looks Tough to Defend: Jonathan Weil - Bloomberg (10/24/2007 05:08 AM)
A Record Year for Layoffs in Finance - Business Week (10/24/2007 05:11 AM)
Housing woes take toll on USG - Chicago Tribune (10/24/2007 05:01 AM)

From Patrick.net
Housing horror could hang around for years (articles.moneycentral.msn.com)
House builders: Worst is yet to come (money.cnn.com)
When will housing hit bottom? (marketwatch.com)
No end in sight to US housing slump (business.guardian.co.uk)
Merrill takes $7.9B mortgage writedown in third quarter (money.cnn.com)
Phone Sex and Mortgage Servicing (tpmcafe.com)
Why Mortgage Rates Will Rise Despite Fed Rates Cuts (Charles Hugh Smith)
Roots of credit crisis found at the Fed's door (marketwatch.com)
Used house sales crash 29% versus last month (housingpanic.blogspot.com)
Sales of existing US houses crashes (theage.com.au)
Tampa Area's Existing-House Sales Slide (tbo.com)
Housing slump has South Florida condo investors heading for the exits (sun-sentinel.com)
4,800 subprime Bay Area loans at risk of foreclosure by 2008 (sfgate.com)
California House Sale Activity by City Chart (dqnews.com)
Monthy Mortgage Rate Resets (bignose.org)
Reverse Mortgages in a Housing Downturn (efinancedirectory.com)
The Real Estate Bubble Myth (Old but Good) (breakingbubble.com)
Doll-Housing Crisis Set To Worsen, Mean Older Brother Says (theonion.com)

Wednesday, October 24, 2007

Wednesday October 24 Housing and Economic stories

Housing and Economic News

Neumann Down, More To Come (globaleconomicanalysis.blogspot.com)
Neumann will file chapter 11 (www.suntimes.com) – official now, Neumann Chicago homebuilder has file for Chapter 11.
US Housing Slump Deepening; Firms More Cautious (www.fxstreet.com)
Prior Loans, Future Pain? (online.wsj.com)
Bank Lending Surge a Good Thing? Not So Fast. (www.minyanville.com)
S&P cuts ratings on $23B in mortgage-backed securities (usatoday.com)
GMAC's ResCap mortgage unit to cut 3,000 jobs (usatoday.com)
September housing starts, permits fall to 14-year lows (usatoday.com)
Fed Signals Support for Paulson Plan to Help Commercial Paper - Bloomberg (10/23/2007 05:48 AM)
College prices, student borrowing up - USA Today (10/23/2007 06:03 AM)
US healthcare burden is 'causing pension cutbacks' - FT (10/23/2007 08:57 PM)
College tuition increases outpace inflation - Philly Inquirer (10/23/2007 04:53 AM)
S&P May Cut Ratings of 207 Australian, NZ Mortgage-Backed Bonds - Bloomberg (10/23/2007 08:30 PM)
Countrywide Offers Loan Help - TheStreet.com (10/23/2007 09:15 AM)
Bill Allowing Mortgage Lawsuits Expected to Stir Fierce Opposition - NY Times (10/23/2007 05:56 AM)

From patrick.net (http://patrick.net/housing/crash.html )

Dumped Mortgage Files Invite Identity Theft (biz.yahoo.com)
The Big Squeeze (counterpunch.com)
Phoenix Flippers In Trouble (phoenixflippers.blogspot.com)
Lenders Curb New Mortgages In Weaker Areas (online.wsj.com)
Popular mortgage mods fuel moral hazard (reuters.com)
Countrywide Financial Foreclosures Off The Charts! (countrywide-foreclosures.blogspot.com)
Thoughts From The Frontline (investorsinsight.com)
IMF: Mortgage Reset Chart (calculatedrisk.blogspot.com)
The dollar is falling, but American businesses are smiling (weeklystandard.com)
More Debtors Use Bankruptcy To Keep Houses (online.wsj.com)
No Bottom Yet for Key West Real Estate (keywestchronicle.blogspot.com)
Developer hit with $30 million foreclosure suit (dailybusinessreview.com)
Proposed mortgage rules face hurdles (latimes.com)
Vote for Patrick.net in Best of Blogs (halfway down page) (thebobs.com)
Short sale expert talks (blownmortgage.com)
The Last Laugh - Subprime (youtube.com)

Tuesday, October 23, 2007

Tuesday October 23 Housing and Economic stories

October 23 Housing and Financial Stories (2 must listen 2 quotes from Jim Cramer)
Everyone, please listen to the first two video stories, it will tell you all you need to know about Jim Cramer and his ability (or lack thereof) to really understand markets. He failed to predict the 78% Nasdaq fall in 2001-2003 and he has underperformed the market with his own newsletter recommendations. In these two videos, he shows how he failed to recognize a housing bubble and was criticizing others saying there was a housing "problem"

http://www.youtube.com/watch?v=SWksEJQEYVU – You have all heard this already, but idiot Cramer ranting about the Fed needing to bailout his hedge fund and investment bank buddies in the Hamptons after they have been pocketing millions the past 5 years.
http://www.youtube.com/watch?v=f5zAvh-iFfU - Now here are Cramer's comments from November 15 2006. And people think this insider is smart. He makes money when times are good, then wants bailouts when he loses money.

Housing and Economic Stories:
Countrywide to redo $16B in loans (usatoday.com)
Criticism rains down on mortgage industry (usatoday.com)
Bill seeks to curb abusive mortgage lending (usatoday.com)
Pension plan wants Countrywide CEO out (usatoday.com)

69 Days of Water Remaining, and they Water UNC's Fake Turf! (bullnotbull.com/bull)
Steep Decline in Oil Production Brings Risk of War and Unrest (bullnotbull.com/bull)
Fed: Credit Markets Still Broken - Fed Ready to Act (bullnotbull.com/bull)
Russell, Schultz See Worse to Come (bullnotbull.com/bull)
Prechter: Why the Fed Will Not Stop Deflation (bullnotbull.com/bull)
Housing 2007 = Stocks 1929 (bullnotbull.com/bull)

Bill Allowing Mortgage Lawsuits Expected to Stir Fierce Opposition (nytimes.com)
S O S for Homeowners in Straits (nytimes.com)
RBS joins Cheyne SIV rescue (ft.com)
Remote landowners now have to pay to plug into grid - Arizona Republic (10/22/2007 08:38 AM)
To Keep Homes, More People Bet On Bankruptcy - WSJ ($) (10/22/2007 08:39 PM)
Buyers Pounce as Homes Go on the Block - NY Times (10/22/2007 05:17 AM)
Countrywide, IndyMac, Washington Mutual Downgraded by Lehman - Bloomberg (10/22/2007 05:46 AM)
California Homes Are Overvalued by as Much as 40%, Goldman Says - Bloomberg (10/22/2007 05:52 AM)
Subprime Bailout: Taxpayer toll - CNN/Money (10/22/2007 01:08 PM)
Road likely rocky for equity firms - Minn ST (10/22/2007 04:48 AM)
Housing's blow to the midsection - Orange County (10/22/2007 04:49 AM)
Real Estate Funds Hit by Housing Data - TheStreet.com (10/22/2007 08:36 AM)
Muni bonds' home-state edge at risk - LA Times (10/22/2007 04:40 AM)
Big banks accept blame for global credit turmoil - UK Times (10/22/2007 06:04 AM)
Rising inflation riles Russians ahead of elections - AFP (10/22/2007 05:19 AM)
Credit squeeze seen to hit public spending - FT (10/22/2007 08:52 PM)
Curing SIV - Economist (10/22/2007 05:31 AM)
Know how far feds will insure your accounts - AJC.com (10/22/2007 08:40 AM)
U.S. Housing Decline Threatens to Last Into 2009: John F. Wasik - Bloomberg (10/22/2007 05:14 AM)

From Patrick.net
California Houses Are Overvalued by as Much as 40% (bloomberg.com)
Housing Flameout: California falls into the sea (informationclearinghouse.info)
Demand for U.S. Debt May Be at Limit (bloomberg.com)
US loan default problems widen (ft.com)
Housing's blow to the midsection (ocregister.com)
Foreign property dreams crash (independent.ie)
A Troubled 'Ownership Society' (businessweek.com)
Gone Baby Gone (nytimes.com)
Palm Beach County FBI team enlarged (miamiherald.com)
A super-duper bad-loan bailout plan (articles.moneycentral.msn.com)
Destined To Fail (Mish)
Financial problems mount for Chicago housebuilder (chicagorealestatedaily.com)
FL Condo Market: Broken bubble (dailybusinessreview.com)
Looks like slide's still ahead on house prices (palmbeachpost.com)
The Arlington Artifice (paper-money.blogspot.com)
Sox bat .000 in home game (bostonherald.com)
Collapsing Housing Market Taking Emotional Toll (from 17 years ago) (query.nytimes.com)

KeNo's Housing and Economic Portal