Tuesday November 6 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:
At Many Big Banks, Credit Woes Just Keep Growing - (http://www.cnbc.com/)
Citigroup's bombshell that it faces as much as $11 billion more in credit losses has made one thing clear: No one really knows what's hidden in the subprime bond basement.
Mortgage Losses May Hit $200 Billion - (http://www.cnbc.com/)
Citigroup Troubles Worsen As Stock Gets Slammed - (http://www.cnbc.com/)
Pimco's Gross: Subprime Crisis Is Far From Over - (http://www.cnbc.com/)
Fink Considers Merrill Lynch CEO Position - (http://www.cnbc.com/)

Fears intensify for prolonged turmoil - (http://www.bullnotbull.com/bull)
As big US and European banks come under pressure due to losses on US mortgage securities, fears are rising in the credit markets that the turbulence that has claimed the jobs of two of the biggest names on Wall Street could last well into next year
Bloodbath expected to claim more victims - (http://www.bullnotbull.com/bull)
Citi investors unimpressed by excuses - (http://www.bullnotbull.com/bull)
Auditors set for tough talks with clients - (http://www.bullnotbull.com/bull)
Bond issuance plunges amid credit fears - (http://www.bullnotbull.com/bull)

Ron Paul's Biggest Fundraising Day Every - Today, November 5! - (www.bullnotbull.com/bull)
US Government Claims No Privacy Rights for Email Under Constitution! - (www.bullnotbull.com/bull)
Pot Use in Britain Drops After Decriminalization - (www.bullnotbull.com/bull)
Stock Sell-off Crushes Financials, Home-builder ETFs - (www.bullnotbull.com/bull)
Citigroup CEO Quits, Bank May Face $11 Billion Writeoff - (www.bullnotbull.com/bull)
Bernanke Back on the Hot Seat - (www.bullnotbull.com/bull)
London Fears Another British Bank in Trouble - (www.bullnotbull.com/bull)
Copper Hits 8 Week Low - (www.bullnotbull.com/bull)
Sinking Currency, Sinking Country - (www.bullnotbull.com/bull)
Oil Shockwave! Wargame Scenario Simulation - (www.bullnotbull.com/bull)
Mish: Oil Hits $100 - Is This Deflation? - (www.bullnotbull.com/bull)

From http://www.prudentbear.com/
Unprecedented tightening in lending standards: Fed - Market Watch from Dow Jones (11/05/2007 01:49 PM)
Responsible borrowers upset over bailouts - CNN/Money (11/05/2007 10:57 AM)
Fed must be ready to take back cuts: Fed's Mishkin - Reuters (11/05/2007 08:12 PM)
Think home-price slide is over? The worst appears yet to come - San Diego UT (11/05/2007 05:16 AM)
Citigroup Default Swaps Rise to Record on Writedowns - Bloomberg (11/05/2007 09:35 AM)
Fitch May Downgrade Bond Insurers After New Test - Bloomberg (11/05/2007 04:30 PM)
Fears intensify for prolonged turmoil - FT (11/05/2007 04:49 PM)
Repercussions of mortgage products - TheStreet.com , Kass, (11/05/2007 08:47 AM)
Time to notice implosion in financials - N.Y. Post (11/05/2007 08:41 AM)
Jumbo loans still scarce in high-cost areas - Market Watch from Dow Jones (11/05/2007 05:25 AM)
Distressed bond insurers fears cross the Atlantic - FT (11/05/2007 08:12 PM)
Bond issuance plunges amid credit fears - FT (11/05/2007 08:14 PM)
Unusual price swings in credit derivatives - FT (11/05/2007 08:59 PM)
Investors braced for prolonged squeeze - FT (11/05/2007 09:01 PM)
Oil's Recent Rise Not as Familiar as It Looks - Washington Post (11/05/2007 05:23 AM)

Citi, Merrill: Caught without plan B - CNN/Money (11/05/2007 08:51 AM)
Managers of money funds may take the hit - LA Times (11/05/2007 08:56 AM)
Why Citi Struggles to Tally Losses - WSJ ($) (11/05/2007 04:41 AM)
Weill's Profit Machine Breaks Down on Citi Writedowns - Bloomberg (11/05/2007 05:00 AM)
H&R Block Finance Chief William Trubeck Steps Down - Bloomberg (11/05/2007 11:51 AM)
New car sales fall as buyers shun debt - WSJ ($) (11/05/2007 04:29 AM)
Bankers’ Lesson From Mortgage Mess: Sell, Don’t Hold - NY Times (11/05/2007 05:17 AM)
Northern Rock mortgage trade collapses - FT (11/05/2007 04:48 PM)
Wen warns China will do what it takes to rein in stock market - AFP (11/05/2007 05:18 AM)
BOJ Members Said Low Rates Caused Subprime-Loan Rout - Bloomberg (11/05/2007 05:20 AM)
Pakistan Stocks Slide Most in 16 Months on Coup Speculation - Bloomberg (11/05/2007 05:21 AM)
PetroChina first to reach $1,000bn cap - FT (11/05/2007 08:53 PM)
Qatar's Delta Drops 10.5 Billion-Pound Sainsbury Bid - Bloomberg (11/05/2007 05:02 AM)
Pressure on banks - FT (11/05/2007 08:51 AM)


From http://patrick.net/housing/crash.html
Foreclosure wave sweeps America (news.bbc.co.uk)
Worst of mortgage meltdown yet to come (centralvalleybusinesstimes.com)
Deadbeats get special treatment; Responsible punished (money.cnn.com)
Borrowers Face Dubious Charges in Foreclosures (nytimes.com)
Another Revealing Housing Chart (nakedcapitalism.com)
Treasury Secretary was CEO of Large Subprime Issuer (bloomberg.com)
Citigroup Fighting For Its Financial Life (Mish)
Chuck Prince Resigns : Replaced by a Parrot (Mish)
Another head rolls in U.S. lending debacle (theglobeandmail.com)
Subprime Contagion May Claim 10-Year Treasuries Next (bloomberg.com)
When Will Housing Hit Bottom? (finance.yahoo.com)
The Invisible Hand (financialsense.com)
Asian Stocks Slide on Subprime Losses (bloomberg.com)
BOJ Members Said Low Rates Caused Subprime-Loan Rout (bloomberg.com)
Housing glut hits home (journalgazette.net)
The Great Unraveling Begins (Charles Hugh Smith)
Why Mortgage Lenders Didn't Care About a Borrower's Ability to Pay (efinancedirectory.com)
Bankruptcy Reform: The Banks Got What They Wanted (nakedcapitalism.com)
Bankruptcy Reform Bites Back (businessweek.com)