Thursday December 13 Housing and Economic stories

Top Stories:

Pent Up Housing Demand In Pictures – (http://globaleconomicanalysis.blogspot.com/)
· Lawrence Yun, chief economist for the NAR, said he believes existing home sales will gradually rise over the next year as "pent up demand" is unleashed.
SCA risks losing top credit rating - (www.ft.com) ($)
Peter Schiff on Credit Crisis - (video.google.com)
Fox Business Experts (including clueless Ben Stein) bashing Peter Schiff (look how wrong they were in August) – (video.google.com)
· Notice Ben Stein saying credit crisis is overblown and financials are a great buy. Look at stocks of CFC, C, MER, BSC, etc. since
· Notice other Fox analysts calling him un-American
· Peter was one of only a few who “got it” earlier this year.
Spain's Sinking Property Market May Roil Europe - (www.bloomberg.com)
Hearst heiress reportedly near deal to avoid foreclosure (www.dailybusinessreview.com)
Fed Takes Action With Other Central Banks - (www.nytimes.com)
Fed actively considering liquidity measures - (www.boston.com)
Cramer: Plan Is a 'Fiasco' - (www.cnbc.com)

The Subprime Mess, Now In Plastic? - (www.businessweek.com)
Florida Fund Assets Reduced By $1.9 Billion After SIV Losses - (www.bloomberg.com)
ECB warns of danger of a wider squeeze - (www.ft.com) ($)
Bank of America Expects Profit to Be `Disappointing' - (www.bloomberg.com)
Fannie, Freddie Chiefs See Tough 2008 - (www.chicagotribune.com)
Capital One unpaid, delinquent loans rise - (www.ap.com)
Sallie Slashes 2008 Profit Forecast - (www.ap.com)
Goldman chief’s pay set to hit $70m - (www.ft.com)


Other Stories:

The End of Denial - (www.bullnotbull.com/bull)
BoA Sounds Grim Tone on Outlook - (www.bullnotbull.com/bull)
Morgan Stanely Issues Full Recession Alert - (www.bullnotbull.com/bull)
FOMC statement - (www.federalreserve.gov)
U.S. Mortgage Crisis Rivals S&L Meltdown - (online.wsj.com)
Mortgage crisis will be worse than SL meltdown - (eyeonmiami.blogspot.com)
Hopes for Fed liquidity action stem stock losses - (www.ft.com) ($)
The Roots of the Mortgage Crisis - (online.wsj.com) ($)
Import prices rise 2.7%, most in 17 years - (www.marketwatch.com)
Central banks step in to attack credit crisis - (www.ft.com) ($)
Greenspan: subprime "accident waiting to happen" - (www.boston.com)e
Why Borrowers May Not Benefit From Rate Cut - (online.wsj.com) ($)
Credit Crisis Prompts Fed to Roll Back Rates Again - (www.nytimes.com)
Fed set to revamp liquidity support - (www.ft.com)
Consumers wary, delay gift-buying - (www.startribune.com)
The Capital of Slumping Home Sales - (www.nytimes.com)
Behind Bernanke's Bombshell - (www.businessweek.com)
Yet Another Problem with Mortgage-Backed Securities - (seekingalpha.com)
Don't Be Fooled, Risk Never Takes a Holiday - (seekingalpha.com)
Rise looming in house down payments, loan rates - (www.denverpost.com)
Impending Destruction of U.S. Economy - (www.fool.com)
Reverse Wealth Effect As Housing Pops - (Charles Hugh Smith)
Housing market to remain weak - (www.pe.com)
Washington Mutual to close 190 offices - (www.sfgate.com)
Cockeyed optimists of the National Association of Realtors - (www.slate.com)
Chart: Genesis of a Crisis - (bigpicture.typepad.com)
Your Income and Your House - (www.tcsdaily.com)
The Housing Market Meltdown - (www.truthout.org)
Once Ranked Prime, Now They're Pinched - (www.washingtonpost.com)
Hope now, default later - (www.wallst.com)
Letter to Barbara Boxer - (patrick.net)
Another letter to Barbara Boxer - (patrick.net)

Fed, ECB, Central Banks Coordinate to Add Liquidity - (www.bloomberg.com)
A 'Subprime' Gauge, in Many Ways? - (online.wsj.com) ($)
Bankers Face Grim Truth: Worst Is Yet to Come - (www.nytimes.com)
401(k) study has bad news for young workers - (www.latimes.com)
Goldman Raises Forecast for Agricultural Commodities in 2008 - (www.bloomberg.com)

Banks raise loss estimates - (www.marketwatch.com)
Wachovia May Double Fourth-Quarter Loss Provision - (www.bloomberg.com)
On Wall St., Mortgage-Finance Chiefs Take Apologetic Tone - (www.washingtonpost.com)
For H&R Block and Breeden, a Bumpy Ride - (www.nytimes.com)

Beijing lectures US on weak dollar - (www.ft.com) ($)
China Retail Sales Grow at Fastest Pace Since 1999 - (www.bloomberg.com)
China tells US to fix its own economic problems - (news.yahoo.com)
UK housing market slows still further - (www.ft.com) ($)
Inflation Echoes From Abroad - (www.washingtonpost.com)