Tuesday December 11 Housing and Economic stories

Top Stories:

Run on UK property funds - (www.telegraph.co.uk)
WaMu Cuts Dividend, Jobs Amid Mortgage Losses - (www.cnbc.com)
Bank of America Winding Down $12 Billion Fund - (www.cnbc.com)
Washington Mutual Plans to Raise $2.5 Billion, Cut 3,150 Jobs - (www.bloomberg.com)
MBIA Gets $1 Billion From Warburg Pincus, Sees Losses - (www.bloomberg.com)
Mortgage Fees Rising, Even for Prime Borrowers - (www.cnbc.com)
Interest rate 'freeze' - the real story is fraud - (www.sfgate.com)
New Mexico land sale plunge hurts developer – (albuquerque.bizjournals.com)
Bush's Subprime Mortgage Freeze Stymies Bond Market - (www.bloomberg.com)
Iran stops selling oil in U.S. dollars - (uk.reuters.com)
Its Credit and its Crunchy - (www.youtube.com)
Citigroup offloads assets from SIVs - (www.ft.com)
Citigroup has slashed the size of its struggling off-balance-sheet investment funds by more than $15bn in two months through quiet side deals with some junior investors, according to people familiar with the business


Other Stories:

MBIA To Get $1 Billion from Warburg Pincus - (www.cnbc.com)
Mortgage Fees Rising, Even for Prime Borrowers - (www.cnbc.com)
Home Sales Rise, But So Do Recession Forecasts - (www.cnbc.com)
Large drop in U.S. house prices - (www.thestar.com)
Why House Prices Are Important To the U.S. Economy - (seekingalpha.com)
What Should Today's Median Housing Price Be? - (seekingalpha.com)
Priced to sell - (www.sptimes.com)
House equity down in the third quarter - (money.cnn.com)
Seattle house prices slip - (seattletimes.nwsource.com)
Housing Bubble Xmas List - (www.stockmania.com)
Its Credit and its Crunchy - (www.youtube.com)
UBS Writes Down $10 Billion, Singapore Injects Capital - (www.cnbc.com)
Citigroup Board Expected to Pick CEO This Week - (www.cnbc.com)
Freddie Mac Changes Delinquent Loan Procedure - (www.cnbc.com)

Interest rate 'freeze' - the real story is fraud - (www.sfgate.com)
Bush bailout rewards the cheaters - (www.denverpost.com)
Whom Will the Subprime Plan Help? - (www.time.com)
Bush's bogus bailout - (carolynbaker.net)
What You Need to Know About Mortgage Bailouts - (efinancedirectory.com)
Straight Talk on the Mortgage Mess from an Insider - (blogs.marketwatch.com)
Bush's Subprime Mortgage Freeze Stymies Bond Market - (www.bloomberg.com)
Moral Hazard Cited as Bush Acts on Loans - (www.nysun.com)
Meddling in the markets - (www.economist.com)
Citigroup offloads assets from SIVs - (www.ft.com)
Citigroup has slashed the size of its struggling off-balance-sheet investment funds by more than $15bn in two months through quiet side deals with some junior investors, according to people familiar with the business
· SocGen joins other banks to bail out its SIV
· Standard & Poor’s marks down SIVs
· SIVs hit out over upfront fund fees
· On Wall St: Super fund pill can’t treat the SIV illness
UBS takes new $10bn subprime hit - (wwwft.com)
Bank turns to Singapore fund
MBIA gets $1bn injection from Warburg - (wwwft.com)
Private equity group to buy 16.1m shares
WaMu wields axe in wake of credit crisis - (www.ft.com)

Home sales gain but trouble looms - (money.cnn.com)
Pending Sales of Existing U.S. Homes Rose in October - (www.bloomberg.com)
Local Home Foreclosures on the Rise - (www.washingtonpost.com)
Companies trim holiday parties, bonuses - (www.usatoday.com) (12/10/2007 05:47 AM)

Loan Mess Rivals S&L Meltdown - (www.wsj.com) ($)
Big Banks Scale Back Plan to Aid in Debt Crisis - (www.nytimes.com)
Societe Generale Takes On $4.3 Billion of SIV Assets - (www.bloomberg.com)
Bank-Lending Drought May Continue Next Year, BIS Says - (www.bloomberg.com)
Absolute return suffers mass exits - (www.ft.com) ($)
The Next Bubble? - (www.forbes.com)
Diesel price hikes driving change in several industries - (www.latimes.com)
Freddie Mac to Restrict Delinquent Loan Purchases - (www.bloomberg.com)
U.S. banks' analysis jobs going to India - (www.latimes.com)
Henry Paulson's Holiday Wish List - (www.ft.com) ($)
Decoupling dies as half the globe hits crunch - (www.telegraph.co.uk)
If MBIA Is AAA, Britney Spears Is Pure as Snow: Jonathan Weil - (www.bloomberg.com)