Friday January 11 Housing and Economic stories

Top Stories:

Countrywide headed to bankruptcy? - (optionarmageddon.blogspot.com)

BUT NOT SO FAST!!!

BofA close to deal to buy Countrywide (per Mish, any cajoling, pleading by the Fed/Treasury to bail CFC out?) - (www.ft.com)

Bernanke says Fed ready for aggressive cut (markets expecting 50 basis point cut, down to 3.0% by fall) - Decisive language sends stocks soaring – (www.ft.com)
Realtors quit in droves - (www.csmoniter.com)
Foreclosures may spark arson boom - (money.cnn.com)
Greenspan's 'Superstar' Status at Risk as Recession Risks Grow - (www.bloomberg.com)
Bear Stearns Shutters Third Fund - (www.thestreet.com)
Moody’s says spending threatens US Government rating - (www.ft.com)
No relief in sight for CDO investors ($58B of CDOs have hit “default” events - (www.ft.com)
Fed chief: Housing prices might plunge - (news.bostonherald.com)
Record 10,700 houses lost in 07 - (www.news-press.com)
Can Bank of America salvage its Countrywide stake? - (money.cnn.com)
Bush convenes Plunge Protection Team - (www.telegraph.co.uk)


Other Stories:

Giant Write-Down Is Seen for Merrill - ‘ expected to suffer $15B in losses from soured mortgage investments, almost double original estimate - (www.ml-implode.com)
Gov't seen to favor Countrywide buyout - 'buyout of hobbled mortgage lender Countrywide Financial likely would be approved by regulators, analysts say, because.. - (www.ml-implode.com)
Countrywide, IndyMac Shut Out by Warehouser - - "We started to believe that the stock price is mimicking the movements of some of the other lenders that imploded" - (www.ml-implode.com)
Financial Mergers May Be Mandated Rather Than Preferred - ``truth is that carnage in the financial sector is coming to head whether the U.S. heads into a recession or narrowly es... - (www.ml-implode.com)
Goldman Says Japan Recession Risk at `Danger Level' - (www.bloomberg.com)
Bernanke Says More Interest-Rate Cuts May Be Needed - (www.bloomberg.com)
Securitization woes spell trouble - (www.reuters.com)
Thousands show up for shot at Wal-Mart job - (www.ajc.com)
Housing: A Fresh Jolt of Bad News - (www.businessweek.com)
Washington Mutual Drops on Mortgage Market Concerns - (www.bloomberg.com)
As housing slumps, realtors quit - (real-us.news.yahoo.com)
Countrywide says foreclosures highest on record - (news.yahoo.com)
Restructuring America's Suburban Dream - (www.financialsense.com)
We can't afford Proposition 13 anymore - (www.latimes.com)
US recession soon, economists say. Bad time to buy. - (www.rte.ie)
Freddie Mac's Strength Rating May Be Cut by Moody's - (www.bloomberg.com)
Capital One Cuts 2007 Profit Forecast on Loan Losses - (www.bloomberg.com)
Citi, Merrill Again Eye Foreign Cash - (www.thestreet.com)
American Express Has $275 Million Charge for Quarter - (www.bloomberg.com)
Bankruptcy fears deepen at lender - (www.latimes.com)
Centro Drops on Report About Regulator's Questioning - (www.bloomberg.com)
ECB, British Bank Hold Rates Steady - (www.ap.com)
Subprime Folly's Lasting Effects on Wall Street: David Pauly - (www.bloomberg.com)
More Missing Listings - (patrick.net)
The National Association of Realtors' Fuzzy Math - (seekingalpha.com)
How the Jobless Rate Affects the Housing Market - (www.thestreet.com)
This is Not a Drill - (www.wallstreetexaminer.com)