Friday December 28 Housing and Economic stories

Top Stories:

Pakistan's Bhutto Killed in Attack - (www.ap.com)
Bankruptcy case filed against main Ritchie fund - (www.reuters.com)
Rate cuts will hammer dollar: Chinese official - (money.cnn.com)
Advertising of easy credit in the 1920s - (etext.virginia.edu)
ACA (mortgage and bond insurer) Cedes Control to Regulator to Avert Delinquency - (www.bloomberg.com)
Subprime satan in hedge fund hell - (www.nypost.com)
Sallie Mae to Sell Stock to Pay Off a Failed Bet - (www.nytimes.com)
10 bank money market funds are bailed out - (www.ft.com) ($)
Restaurants trying to fill empty tables - (www.ocregister.com)
Subprime crisis hits newspapers’ revenues - (www.ft.com) ($)
U.K. mortgage approvals slump more than 40% - (business.timesonline.co.uk)
Edgy buyers, mortgage crunch spell more housing gloom in 2008 - (www.marketwatch.com)Houseowners with forgiven loan debt get unfair tax break - (www.usatoday.com)
Merrill Lynch to Cut 1,600 Jobs; Citi to Slash Bonuses - (www.cnbc.com)


Other Stories:

Goldman Raises Estimates For Bank Writedowns - (www.cnbc.com)
US Mortgage Applications Sink to Year Low - (www.cnbc.com)
Fast Money: Write-Down The New Year - (www.cnbc.com)

Economists glum about 2008 - (www.boston.com)
Frozen rates, falling prices - (www.nytimes.com)
U.S. Economy's Pulse Weakens - (www.forbes.com)
Fewer mortgage applications filed last week - (www.marketwatch.com)
Are hedge funds next to see write offs? - (www.nypost.com)
Wall Street Wizardry Amplified Credit Crisis - (online.wsj.com) ($)

Reining In Risky Bets - (online.wsj.com) ($)
House Price Decline Hits New Record - (seekingalpha.com)
House prices post record annual drop - (news.yahoo.com)
U.S. house prices fall record 6.7 percent in October - (www.tcpalm.com)
Biggest Housebuilder Writedowns Are Yet to Come - (www.bloomberg.com)
Blame abounds for housing bust - (www.washingtontimes.com)
Are We Having a Housing Crisis Dj Vu? - (seekingalpha.com)
Web Entrepreneurs Fail in Miami's Condo Market - (www.nytimes.com)
Mortgage Meltdown - (www.nytimes.com)
How a development became a housing debacle - (www.sptimes.com)
Citigroup May Cut Dividend by 40%, Goldman Sachs Says - (www.bloomberg.com)
Buffett turns down bank deal - (www.guardian.co.uk)
China Buys Wall Street – (www.forbes.com)

U.K. November Mortgage Approvals Fall 44% on Year - (www.bloomberg.com)
UK housing market stuck in doldrums - (www.ft.com) ($)
Even Hot Housing Markets Can Go Cold - (www.businessweek.com)
The Credit Crunch - (www.post-gazette.com)
Don't bet the farm on it all turning out OK - (business.smh.com.au)
So Long SuperSIV, We Hardly Knew You - (www.researchrecap.com)
Dwindling dollar may be next US security threat - (www.ft.com) ($)
Floyd Norris: New wave of defaults in the offing for 2008 - (www.iht.com)