Wednesday November 14 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:

Banks’ positive forecasts fuel rally - (www.ft.com)
Banking shares helped fuel a powerful rally on Wall Street as investors grew more optimistic that the worst of the losses from the subprime mortgage crisis had been disclosed - 00:40
BofA set to gain $30bn on China bank stake - (www.ft.com)
Rally relieves the siege of E-Trade - (www.ft.com)
Banks prop up money market funds - (www.ft.com)
Lex: Money market funds - (www.ft.com)

Supporters of Benazir Bhutto were arrested in Pakistan as the former prime minister pulled out from discussions on a power-sharing agreement with Pervez Musharraf, Pakistan’s US-backed military ruler
Surprise rise in US home sales - (www.ft.com)
Breaks record losing streak - 05:02
Lex: Investigating subprime
Northern Rock faces years of debt - (www.ft.com)
BoE debt expected to reach £24bn by January - 20:41
Treasury aid seen through rose-tinted spectacles - (www.ft.com)
Thain absent from Citi’s shortlist - (www.ft.com)
Omission surprise to many observers - 01:35
Citigroup in capital markets revamp
Analysis: China traps online dissent
US buy-out reign under threat - (www.ft.com)
Carlyle’s founder fears end to dominance - 22:01
Private equity in new tax challenge

Suddenly, Inflation Isn't The Market's Bogeyman - (www.cnbc.com)
The good news is that inflation is less of a worry. The bad news is that economic growth is more of one. The change in perception comes as investors prepare for key inflation data this week.
More Americans Expect Recession - (www.cnbc.com)
Pending Home Sales Rose Unexpectedly in September - (www.cnbc.com)
Turmoil at Citigroup Fuels Speculation of Breakup - (www.cnbc.com)
E*Trade Shares Rebound, CEO Cancels Presentation - (www.cnbc.com)
Wal-Mart Surprises with Strong Profit, Sales - (www.cnbc.com)
What Weak Dollar? More Americans Trek to Europe - (www.cnbc.com)
Fast Money: Trading The Pops & Drops - (www.cnbc.com)
Triarc Makes Offer to Buy Wendy's - (www.cnbc.com)
BofA Will Take $3 Billion Debt Writedown - (www.cnbc.com)


US Stocks Surge! Dow Up 300! - (www.bullnotbull.com/bull)

So...is the recession over?
Now Money Market Funds Become a Concern - (www.bullnotbull.com/bull)

No, I guess the recession is just starting...
How to Profit from the Real Estate Bust - Interview with John Rubino - (www.bullnotbull.com/bull)
Cost of Iraq, Afghan Wars: $1.6 Trillion - (www.bullnotbull.com/bull)
Resistance to Ethanol Plants in Farm Belt - (www.bullnotbull.com/bull)
Blackstone Warns of Mortgage "Black Hole"Dan Dorfman: Talk of Worst Recession Since the '30'sCopper Hits 7-Month Low... - (www.bullnotbull.com/bull)
Bankruptcy for E*Trade? - (www.bullnotbull.com/bull)
Credit Crunch: From $2B to $1T Problem!Kunstler: Peak Money - (www.bullnotbull.com/bull)
Gold Falls 2% - (www.bullnotbull.com/bull)
Home Depot Profit Drops 27% - (www.bullnotbull.com/bull)
Time for the White House to Rescue the Dollar? - (www.bullnotbull.com/bull)
Wal Mart Profit Rises 8% - (www.bullnotbull.com/bull)
Georgia Governor Prays for Rain - (www.bullnotbull.com/bull)
No Joy in Retail Holiday Hiring - (www.bullnotbull.com/bull)


From http://www.prudentbear.com

Countrywide Loan Fundings Dive - TheStreet.com (11/13/2007 08:33 AM)
Subprime Losses Could Reach $400 Billion - CFO.com (11/13/2007 08:36 AM)
Consumer satisfaction dips: survey - Boston Globe (11/13/2007 05:01 AM)
Recession hinges on coping with credit crisis - Business Week (11/13/2007 05:29 AM)

Legg Mason, SunTrust Shore Up Money Funds for SIVs - Bloomberg (11/13/2007 05:08 AM)
Mortgage Crisis Extends Its Reach - WSJ ($) (11/13/2007 05:52 AM)
Miami condo at ground zero in mortgage fraud - Reuters (11/13/2007 03:03 PM)
'Hysterical' US bond investors threaten commercial property - FT (11/13/2007 08:43 AM)
Mortgage Crisis Extends Its Reach - WSJ ($) (11/13/2007 05:15 AM)
Governments Are Urged to Make Lenders Bear Some Risk on Securitized Loans - WSJ ($) (11/13/2007 05:16 AM)
Moody's puts eight CPDO deals on review - FT (11/13/2007 05:27 AM)
European Central Banks Blew It With Gold - TheStreet.com , Brett Arends, (11/13/2007 08:35 AM)
Big check for fired execs - CNN/Money (11/13/2007 08:38 AM)
Bearish mood in commercial sector - FT (11/13/2007 08:46 AM)
Perimeter shakes Canadian ABCP sector - FT (11/13/2007 09:25 PM)
US buy-out reign under threat - FT (11/13/2007 09:00 PM)
Subprime Woes - N.Y. Post (11/13/2007 05:53 AM)
Home prices to keep sliding with no bottom in sight - Reuters (11/13/2007 06:30 AM)
Stop Apologizing for Failed CEOs - TheStreet.com (11/13/2007 08:36 AM)
Momentum building for a steeper yield curve - FT (11/13/2007 10:10 AM)

Home Builders Opt for Mothballing - WSJ ($) (11/13/2007 05:17 AM)
Home Depot Has Profit Decline on U.S. Housing Slump - Bloomberg (11/13/2007 06:29 AM)
Blackstone takes hit on earnings - N.Y. Post (11/13/2007 08:27 AM)
Home Depot Cuts Outlook - TheStreet.com (11/13/2007 08:31 AM)
Ambac, MBIA May Discover Clients No Longer Need Them: Joe Mysak - Bloomberg (11/13/2007 05:09 AM)
Oil companies short on exploration - Houston Chronicle (11/13/2007 08:20 AM)
HEDGE FUND COUNTER SUES OVERSTOCK - N.Y. Post (11/13/2007 08:21 AM)
Hershey sale unlikely after trust board reorganization - Chicago Tribune (11/13/2007 04:57 AM)

Credit Crunch Hits U.K. House Market - Forbes (11/13/2007 10:52 AM)
German Investor Confidence Drops to 15-Year Low - Bloomberg (11/13/2007 05:05 AM)
China's October Inflation Matches Decade High of 6.5% - Bloomberg (11/13/2007 05:09 AM)
Trouble brews in China and world awaits tremors - IHT (11/13/2007 11:18 AM)
U.K. Inflation Rate Increases to a Four-Month High - Bloomberg (11/13/2007 05:06 AM)
Who's Watching the Big Banks?: Henry Kaufman - WSJ ($) (11/13/2007 11:32 AM)
In Subprime Crisis, the Worst Is Yet to Come - Spiegel (11/13/2007 10:51 AM)
Asian inflation poses a problem for us all - FT (11/13/2007 10:10 AM)
Calling Kevin Bacon: SIV market playing your game - Reuters (11/13/2007 10:44 AM)


From http://patrick.net/housing/crash.html
Mortgage Woes to Sink Property Values (news.moneycentral.msn.com)
Mortgage meltdown washing across whole communities (centralvalleybusinesstimes.com)
Foreclosures: Why Cleveland? (money.cnn.com)
Carnage on Wall Street as loans go bad (news.bbc.co.uk)
Busting the 'House As Retirement Insurance' Myth (seekingalpha.com)
San Diego Foreclosure Statistics (foreclosureforum.com)
How to Profit from the Real Estate Bust (doctorhousingbubble.com)
Caveat Emptor: The Tumbling Housing Market (seekingalpha.com)
Housing market has buyers, sellers anxious about future (lsj.com)
Shiller: Housing Market Is Nowhere Near Bottom (seekingalpha.com)
House prices to keep sliding with no bottom in sight (reuters.com)
Miami condo at ground zero in mortgage fraud (reuters.com)
Bank of America sees $3 billion loss on CDOs (news.yahoo.com)
Countrywide Warns Against Junk-Bond Rating (nytimes.com)
How a Prime Borrower Lost $280K In Less Than 6 Months (patrick.net)
Petition against subprime bailout (financialpetition.org)
Pawn shop's business booming (insidebayarea.com)
George Parr Explains Subprime (patrick.net)