Top Stories:
$45 Trillion Gap Seen in US Benefits - (www.ap.com)
Home builders' index steady at 22-year low - (www.marketwatch.com)
On a Palmdale street, foreclosure is in the air - (www.latimes.com)
Schwarzenegger to Declare Fiscal Emergency Over Gap (from $4B surplus to $14B deficit in 6 months) - (www.bloomberg.com)
1,336 foreclosures auctioned -- only 17 sold - (www.modbee.com)
Fed to pay 85 cents on the dollar for mortgages with no value - (www.dealbreaker.com)
Crash To Deepen in 2008 After Record Drop - (www.bloomberg.com)
Money pits - (http://www.star-telegram.com/)
Frozen markets and the waiting game, by gimleteye - (eyeonmiami.blogspot.com)
ECB steps up fight to safeguard liquidity - (www.ft.com)
Emergency help for financial markets entered new territory as the European Central Bank announced it would offer unlimited funds at below market interest rates in a special operation to head off a year-end liquidity crisis - 00:48
Comment: Fed must stand up to markets
US regulator’s optimism over home loans
Fast Money: Wells Fargo Chief Reveals Subprime Risk - (www.cnbc.com)
Paulson: Banks Making Progress on Subprime Debt (only after government helping banks take crap loans off their books) - (www.cnbc.com)
Other Stories:
Jim Rogers: Bernanke is an Idiot - (moneynews.newsmax.com)
Treasuries Gain as Global Stock Declines Spur Demand for Safety - (www.bloomberg.com)
World economy faces double threat of recession and inflation – (www.iht.com)
Chasm widens between rich and poor in U.S. - (www.iht.com)
Probe of Insider Trading at Bear Stearns - (www.businessweek.com)
Moody's warns on ratings of four bond insurers - (www.reuters.com)
Investor Group Seeks Bond Protections - (www.wsj.com) ($)
Money Market Rates Little Changed Before Fed Auction - (www.bloomberg.com)
CDO Battles: Royal Pain Over Who Gets What - (www.wsj.com) ($)
Wall Street Sees 20% M&A Slump as Suspect Credit Afflicts LBOs - (www.bloomberg.com)
Price drop is deepest of the year in Twin Cities - (www.startribune.com)
Today's house-buyers are learning things the hard way - (www.amarillo.com)
House prices show big drop - (www.sptimes.com)
How low must housing prices go? - (www.marketwatch.com)
Mortgage bailout just makes it worse - (articles.moneycentral.msn.com)
Houseowner bailout is a lousy idea - (articles.moneycentral.msn.com)
Online sales disappointing - (www.latimes.com)
Moody's warns on ratings of four bond insurers - (www.boston.com)
Retailers Face an Ominous Holiday Sign - (www.nytimes.com)
Nuke plants may be pricier than expected - (www.ajc.com)
Next Blow for Citigroup: Debt Downgrade - (http://www.cfo.com/)
Merrill Lynch to Cut Fixed-Income Group's Bonuses, People Say - (http://www.bloomberg.com/)
UK Treasury trying to avoid Northern Rock takover - (http://www.guardian.co.uk/)
Auto Leasing Losing Appeal - (www.thestreet.com).com
Fannie Mae: Beyond Economical Repair? - (seekingalpha.com)
Freddie Mac blowing money on parties while going under - (patrick.net)
After The Money's Gone - (http://www.nytimes.com/)
2 states probe Countrywide house loans - (http://www.latimes.com/)
Look What They're Saying About the Housing Market - (seekingalpha.com)
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