Monday December 17 Housing and Economic stories

Top Stories:

Schwarzenegger to Declare Fiscal Emergency Over Gap (from $4B surplus to $14B deficit in 6 months) - (www.bloomberg.com)
Rate Freeze Plan Designed to Help Banks, Not Houseowners - (www.nationalexpositor.com)
Greenspan's Legacy: The Housing Bust - (seekingalpha.com)
Houseowners' equity fading away - (articles.moneycentral.msn.com)
Mortgage Failure Avalanche - (www.financialsense.com)
Out of the shadows: How banking's secret system broke down – (www.ft.com)
Bond insurers’ ratings in focus - (www.ft.com) ($)
Moody's Puts FGIC, XL on Notice for Downgrade; MBIA Outlook Cut - (www.bloomberg.com)
Lehman faces legal threat over CDO deals - (www.ft.com)
Greenspan Suggests Government Aid for Homeowners - (www.cnbc.com)
Turn out the lights California, the party is over - (globaleconomicanalysis.blogspot.com)
Implications of Commercial Real Estate Collapse - (globaleconomicanalysis.blogspot.com)
Ambac Blows It ... Again - (globaleconomicanalysis.blogspot.com)
What Happens If Guarantors Go Bust? - (globaleconomicanalysis.blogspot.com)
Fed Knowingly Takes Suspect Collateral in TAF Program- (globaleconomicanalysis.blogspot.com)


Other Stories:

In Export-Import Data, More Signs of a Slowdown - (www.nytimes.com)
Inflation rise limits Fed’s options on rates - (www.ft.com) ($)
Retailers see slower holiday growth: reports - (www.reuters.com)
Why the Fed bailout might not work - (money.cnn.com)
Appraisals show worst Orange County decline since 93 - (lansner.freedomblogging.com)
Why Freddie Mac let down its guard, let us down - (www.sptimes.com)
Analysts Late to the Alarm - (www.washingtonpost.com)
Why a 'Soft Landing' is Unlikely - (www.alternet.org)
Some blame rests with overbuilding - (money.cnn.com)
Bill to give judges the ability to call underwater mortgage "unsecured" - (www.chron.com)
Housing Crash In Pictures - (globaleconomicanalysis.blogspot.com)
The US sub-prime crisis in graphics - (news.bbc.co.uk)
Housing Bear Threat-O-Graph - (www.voiceofsandiego.org)
US Housing Bust vs. Japan Housing Bust - (homeguide123.com)
Fed to propose new rules for mortgage lenders - (www.msnbc.com)
World food price rises set to hit consumers - (www.ft.com) ($)
Greenspan sees early signs of U.S. stagflation - (www.reuters.com)
Inflation rise limits Fed's options on rates - (www.ft.com)

Fed Plans To Curb Mortgage Excesses - (www.washingtonpost.com)
Quick, Call Tech Support for the S.E.C. - (www.nytimes.com)
Why SWFs will not fix the western financial mess - (www.ft.com)
Crude oil demand to jump in 2008 - (www.ft.com) ($)
The Mortgage Crisis According To Alan Greenspan - (seekingalpha.com)
Greenspan Smoking Crack Again - (patrick.net)
Adding to the List of Worries, Signs That Inflation Is Bubbling Up - (www.nytimes.com)

Centro Shares Slump After Profit Forecast Cut - (www.bloomberg.com)
Germans battle over minimum wage plans - (www.ft.com) ($)
Mortgage pain starts to hit spending - (www.ft.com) ($)
Fears of attack grow amid Iraq's booming oil production - (www.timeonline.co.uk)
New 'Great Game' for Central Asia riches - (www.ap.com)
Canadian asset bail out falters - (www.ft.com) ($)
Fuel cost warning to business users - (www.ft.com) ($)
Rural Australia suffers from debt exposure - (www.ft.com)

Hold tight, the central banks have no plan - (www.ft.com)
You Can Almost Hear It Pop - (www.nytimes.com)
Bet the House on It - (www.nytimes.com)
What Bankers Fear - (www.washingtonpost.com)
Desperate times... - (www.washingtontimes.com)
Anatomy of a credit crunch - (www.thestar.com)