Tuesday November 27 Housing and Economic stories

Top Stories:

NetBank says to liquidate in bankruptcy – (www.reuters.com) Largest US Bank to fail in 14 years.
Home Loan Bank Warned About Countrywide Debt - (www.cnbc.com)
US Sen. Schumer questions Countrywide borrowing – (www.reuters.com)
Unsigned letter accuses agent of mortgage fraud (sptimes.com)
HSBC in $35bn SIV bail-out - (www.ft.com)
Citi's $41 Billion Issue: Should It Put CDOs On the Balance Sheet? – (www.wsj.com)
Bank of England warns credit crisis to worsen – (www.telegraph.co.uk)
Freddie, Fannie Shares Will Continue to Slide - (www.bloomberg.com)
Bond Spreads Widen on Fear Factor – (www.cfo.com)
Blackstone defends private equity role in business – (www.reuters.com) Sounds an awful lot like Milken and junk bond days. Destroying companies, loading them up on debt, for the gain of a few.
Fed set to provide extra liquidity into 2008 – (www.reuters.com)
US Fed raises primary dealer borrowing limits – (www.reuters.com)
Pressure on bond insurers to save their credit ratings – (www.ft.com)


Other Stories:

Citi gets $7.5bn capital fill-up from Abu Dhabi - (www.ft.com)
The Abu Dhabi Investment Authority will shore up Citigroup’s overstretched balance sheet with a capital injection at a coupon of 11 per cent - 03:39
Stocks slide despite Fed move on funding fears - (www.ft.com)
$8bn long-term repurchase operation - 00:13

Happy Holidays? Recession Worries Are On the Rise - (www.cnbc.com)
UBS Cuts Fannie, Freddie View to Neutral - (www.cnbc.com)
At Home, but Not in Their Own - (www.washingtonpost.com)
Ex-U.S. Treasury Head Summers: Recession Likely - (www.cnbc.com)

Consider that house prices could fall 30% - (www.nytimes.com)
Unease in mortgage bond market spreads to Europe - (www.money.cnn.com)
U.S. housing outlook sends dollar to record low - (seattletimes.nwsource.com)
Citigroup Plans Cost Cuts After Mortgage Losses, Prince Ouster – (www.bloomberg.com)
Citigroup Feels Heat To Modify Mortgages – (www.wsj.com)
Banks' capital needs could end up tying them in knots – (www.economist.com)
Investor Sues AIG over Subprime Mess – (www.CFO.com)
Mortgages Weigh on E*Trade Sale – (www.wsj.com)
How the World Works - (www.salon.com)
Even average houseowners feel rising mortgage floodwaters - (www.marketwatch.com)
Prisoners of Debt - (www.businessweek.com)
SF Bay Area Housing Market Summary - (www.homeguide123.com)
In the housing crisis: a chorus of complaints - (www.realestate.msn.com)
Have we seen worst of mortgage crisis? - (www.news.yahoo.com)
The four stages of House Seller Sickness - (blogs.tampabay.com)
Foreclosure Watch: The Vultures Descend - (www.pacificariptide.com)

Fed sensitive to risks of rate cuts on dollar – (www.ft.com)
Don't look now: Here comes the recession – (www.Fortune.com)

Behind Freddie and Frannie's Free Fall - (www.biz.yahoo.com)Mortgage Giants: The cracks are spreading - (www.economist.com)The next credit scandal – (www.cnnmoney.com)
Bears are becoming harder to ignore – (www.latimes.com)
First CPDO unwind shows potential for volatility – (www.reuters.com)
For Banks, the Hurt Just Goes On – (www.wsj.com)
Will Sovereign Wealth Funds rule the world? – (www.csm.com)
GSEs go from saviors to victims – (www.economist.com)
Credit Mess Is Dashing Hope – (www.thestreet.com)
The Nine Lives of CDOs – (www.wsj.com)
Mortgage Mess Hits Financial Funds – (www.thestreet.com)

HSBC Will Take on $45 Billion of Assets From Two SIVs – (www.bloomberg.com)
Bank of England warns credit crisis to worsen – (www.telegraph.co.uk)
Weak dollar a 'problem' for world economy - EU president – (www.AFP.com)
More insolvencies ahead for 2008 – (www.bbc.com)
FSA hits at mortgage brokers – (www.ft.com)
How a housing boom turned bust – (www.usatoday.com)