Wednesday December 5 Housing and Economic stories

Top Stories:

Florida Investment Chief Quits; Fund Rescue Approved - (www.bloomberg.com) ***** Notice the investment chief relationship to key lobbyist and Jeb Bush campaign manager *********

Stipanovich, whose brother J.M. ``Mac'' Stipanovich is a Tallahassee lobbyist and Republican strategist who ran former Governor Jeb Bush's campaign for governor in 1994, was appointed executive director of the state board in 2002. In the late 1990s, Coleman Stipanovich worked as a lobbyist for PaineWebber Inc. in Florida and was paid $7,500 per month to help the firm win municipal bond business. Stipanovich, a Vietnam veteran, has a master of science degree in criminal justice administration from Michigan State University and a bachelors of science in criminology from Florida State University

Cerberus and H&R Block End Mortgage Unit Deal - (www.ap.com) – Another lender hits the implode-o-meter (see http://ml-implode.com/ )
Mozilo asks Fannie, Freddie to 'step up' - (www.latimes.com)
Florida's Pension Fund Holds Same `Suspect' Debt as Frozen Pool - (www.bloomberg.com)
Florida Accepts BlackRock Plan to Split Government - (www.bloomberg.com)
The blood on Greenspan's hands - (articles.moneycentral.msn.com)
Lennar dumps properties for fraction of previous value - (money.cnn.com)
Troubled Builders, Bargain Seekers United - (online.wsj.com)
Sen Dodd questions on Paulson's role at Goldman - (www.reuters.com)
Gov't prepares to violate contract law - (www.wallstreetexaminer.com)
Home Prices Suffer Biggest Drop In 25 Years - (www.cnbc.com)
Fraud Investigators Brace for Subprime Arsons - (www.insurancejournal.com)
Ontario braces for ABCP blow - (www.globeinvestor.com)



Other Stories:

Lex: Lessons from Florida - (www.ft.com)
Paulson dismisses Citigroup talk - (www.ft.com)
Legg Mason chief sees dire credit market - (www.ft.com)
Chip Mason says state is worst in 47 years
Cheyne Finance vehicle revamp - (www.ft.com)
China in fresh curb on bank lending - (www.ft.com)
Beijing is to extend a clampdown on new bank lending into next year because of fears that rising inflation could become unmanageable
US slowdown threatens Chinese export growth - (www.ft.com)
Dow Chemical to cut 1,000 jobs - (www.ft.com)

Fannie Mae Cuts Dividend by 30%; Shares Fall - (www.cnbc.com)
Credit Recovery Will Be 'Slow': Treasury Official - (www.cnbc.com)
Fast Money: A Cut-Rate Market? - (www.cnbc.com)
Abby Joseph Cohen: Economy to Rebound in 2008 - (www.cnbc.com)
Loan Modifications: Delaying the Inevitable - (www.seekingalpha.com)
Economy Is Key Issue for Voters - (www.wsj.com) ($)
Foreclosure rescue: No help for you - (money.cnn.com)
Dow to cut 1,000 jobs, close three plants - (www.cnet.com)
Greenspan dodging blame he deserves - (articles.moneycentral.msn.com)
Recession, Energy Worries Turn Americans Gloomier, Poll Finds - (www.bloomberg.com)
Dodd questions Paulson’s role in subprime crisis - (www.ft.com) ($)
World food prices to rise - (www.boston.com)
U.S. debt: $30,000 per American - (money.usatoday.com)
Mortgage meltdown - (www.chicagosuntimes.com)
Why its likey the economy is in recession now - (www.nypost.com)

Florida's Pension Fund Holds Same `Suspect' Debt as Frozen Pool - (www.bloomberg.com)
Florida Accepts BlackRock Plan to Split Government - (www.bloomberg.com)
Orange County Says Funds Holds SIV Debt Facing Cut - (www.bloomberg.com)
The chill spreads to commercial real estate - (www.latimes.com)
Falling prices driving crisis - (www.boston.com)
How Florida Might Unfreeze a Fund - (www.wsj.com) ($)
Debt Reckoning Is Also Looming For LBO Shops - (www.wsj.com) ($)
Paulson Sees Limited Aid in Rate Plan - (money.nytimes.com)
What You Need to Know About SIVs - (www.thestreet.com)
Legg Mason chief sees dire credit market - (www.ft.com) ($)
CME trading volume up 41% from last year - (www.chicagotribune.com)
Financial market risk resurges: Treasury's Ryan - (www.reuters.com)
Losses Stack Up - (www.washingtonpost.com)
The chill spreads to commercial real estate - (www.latimes.com)
Investors puzzled by complex products - (www.ft.com) ($)
Morgan Stanley warning hits UK banks - (www.ft.com) ($)
Convertible bond issues at record levels - (www.ft.com) ($)

Fannie Mae to Sell $7 Billion in Preferred Stock, Cuts Dividend - (www.bloomberg.com)
Citi Subprime Losses `Greatly Exceeded' Profits, Mills Says - (www.bloomberg.com)
Fannie Mae could face more losses - (www.fortune.com)
UAL passenger load slips - (www.chicagotribune.com)
The Short View: Earnings forecasts - (www.ft.com) ($)
Gift cards gravitating to the practical - (www.startribune.com)
Fannie, Freddie Face Conflicting Demands - (www.washingtonpost.com)
Nokia forecast disappoints, shares hurt - (www.cnet.com)
Dow Chemical to cut 1,000 jobs - (www.ft.com) ($)

Canada Unexpectedly Cuts Rate as Dollar Gains - (www.bloomberg.com)
GCC States Back 2010 Single Currency, Quiet on Dollar - (www.bloomberg.com)
Ontario braces for ABCP blow - (www.globeinvestor.com)
UK commercial property volumes fall - (www.ft.com) ($)
UK mortgage market could face £30bn squeeze in 2008 - (business.timesonline.co.uk)
China in fresh curb on bank lending - (www.ft.com) ($)
Ron Paul on the Evil Fed, the IRS, and Saving the Buck - (www.businessweek.com)

Price Declines Portend Extended Downturn - (ww.seekingalpha.com)
Housing Slump's Third Year to Be Deepest Since WWII - (www.bloomberg.com)
The blood on Greenspan's hands - (articles.moneycentral.msn.com)
Paulson bailout will save few homes - (www.doctorhousingbubble.com)
Bailout Impact May Be Limited - (www.nytimes.com)
Wall Street Falls on Mortgage Unease - (biz.yahoo.com)
Orange County foreclosure rate zooms past '90s level - (www.ocregister.com)
O.C. distressed houses up 6% in 2 weeks - (mortgage.freedomblogging.com)
Subprime Debacle Traps Even Very Credit-Worthy - (online.wsj.com)
Explaining Rate Sheets - (online.wsj.com)
For the National Museum of American History - (themessthatgreenspanmade.blogspot.com)
Innovating Our Way to Financial Crisis - (www.nytimes.com)
Home-free - for now - (www.sptimes.com)