Wednesday December 26 Housing and Economic stories

Top Stories:

Central CA prices down 23% so far - (www.modbee.com)
Insurance from MBIA and Ambac Worthless - (globaleconomicanalysis.blogspot.com - Mish)
Retirement plan interrupted by foolish house purchase - (money.cnn.com)
9.4 Billion Write-Down at Morgan Stanley - (www.nytimes.com)
Bond giant's $8.1 billion surprise - (money.cnn.com)
Foreclosing on Christmas due to foolish house purchase - (latimes.com)
Condo crash burns big, sophisticated investor, too - (palmbeachpost.com)
U.K. commercial property funds in crisis - (www.marketwatch.com)
Passengers stranded as Maxjet collapses (amidst tough credit conditions) - (www.ft.com)
US airline cites rapidly deteriorating finances
Government Faces Mortgage Crisis - (www.cnbc.com)
Americans 'walk' from loans - (business.theage.com.au)
Sellers dumping realtors - (www.venturacountystar.com)
SIV 'superfund' fails - (www.marketwatch.com)
SEC probing mortgages based on inflated appraisals - (news.yahoo.com)


Other Stories:

Deflation Debate - (globaleconomicanalysis.blogspot.com - Mish)
Weekend Fun with Sallie Mae and Countrywide CEOs - (globaleconomicanalysis.blogspot.com - Mish)
Merger and Takeover Activity Chills - (globaleconomicanalysis.blogspot.com - Mish)
American banks: Unhappy new year - (www.economist.com)
Fraud Seen as a Driver In Wave of Foreclosures - (online.wsj.com)
Getting a loan 'rescission" - (online.wsj.com)
SEC Probes Wall Street on Mortgage-Related Asset Pricing - (seekingalpha.com)
Economics ain't pretty - (www.atimes.com)
America flunks finance and economics - (www.charlestonbusiness.com)
Economic 9/11 - (www.earthfiles.com)Free Market myths - (www.opednews.com)
Lying, Crying and Fire Sale Buying Begins - (www.infozine.com)
This Is the Sound of a Bubble Bursting - (www.nytimes.com)
A Threat So Big, Academics Try Collaboration - (www.nytimes.com)
Credit card delinquencies and defaults surge - (www.latimes.com)
Financial forecasters can't say how low economy will go - (www.chicagotribune.com)
Americans' unpaid credit card debts rising - (www.dallasnews.com)
Retail Rush Falls Short - (online.wsj.com) ($)
The Fed's Thaw - (www.washingtonpost.com)
US braces for baby boom retirement wave - (news.yahoo.com)
Builder talks of 35% SoCal price cuts - (lansner.freedomblogging.com)
Demand for food does not mean $1,000 for a gallon of milk - (seekingalpha.com)
Housing market outlook for 2008 is bleak - (money.cnn.com)
U.S. housing crash to deepen in 2008 after record drop - (www.dailyreportonline.com)
Soybeans highest in 34 years; corn rises - (www.chicagotribune.com)
Foreign Buyers Snap Up 2nd Homes in US - (www.chicagotribune.com)
Credit Downturn Hits the Malls - (online.wsj.com) ($) (12/25/2007 08:12 PM)
Asian, Mideast funds unleash cultural revolution on Wall St. - (news.yahoo.com)
Officials Falling Behind on Mortgage Fraud Cases - (www.nytimes.com)
Outlook Darkens for Big Banks - (online.wsj.com) ($)

Restructuring in works for Canada's frozen debt market - (www.iht.com)
Cheyne SIV poised for rescue as Goldman Sachs fixes bailout - (business.timesonline.co.uk)
Crisis may make 1929 look a 'walk in the park' - (www.telegraph.co.uk)