Tuesday January 8 Housing and Economic stories

Top Stories:

Did Employment Grow In 2007? (over 100% of jobs added because of fictitious birth/death model) - Floyd Norris - (norris.blogs.nytimes.com)
FSU Editorial: "Fiction at its Finest" (another take on laughable birth/death model) by Rob Kirby 01/04/2008 - (www.financialsense.com)
Very funny video - Freak Realtor (she was spanked in last year’s video) vs Peter Schiff - (housingpanic.blogspot.com)
Another Peter Schiff Fox News video (Tom Adkins Lies about 2007 housing prediction; Discredits Self Again – 10 to 15 minutes into video) - (http://www.europac.net/Schiff-FBN-1-02-08_lg.asp)

Tent city in suburbs is cost of house crisis - (www.canada.com)
Tort Lawsuits Soar Over Subprime Lending - (www.nysun.com)
What will we do if Fannie and Freddie go bust? - (optionarmageddon.blogspot.com)
Fed to lend $60 billion to ease credit crunch - (money.cnn.com)
Rising Interest Rates Hurt California Gov't - (www.bloomberg.com)



Other Stories:

Financial News: Goldman Sachs Leads Hedge Fund Stragglers - (www.ml-implode.com)
FICO Speeds Rollout of New Product to Meet Lender Demands - (www.ml-implode.com)
Mortgage job losses topped 86,000 in 2007: study - (www.ml-implode.com)
Nearly 90,000 mortgage jobs eliminated - (www.ml-implode.com)
Paulson: No Easy Answer to Mortgage Woes - (www.ml-implode.com)

Feldstein Says Odds of U.S. Recession Are More Than 50% After Jobs Report - (www.bloomberg.com)
CDO issuance ‘to drop 60%’ in 2008 - (www.ft.com)
Credit squeeze casts shadow over US - (www.ft.com)

Bear Stearns leader Cayne to give up CEO post: report - (www.reuters.com)
Banks May Need to Boost Reserves Against Losses, Moody's Says - (www.bloomberg.com)
Bear Stearns CEO Cayne Pressured to Quit After Subprime Losses - (www.bloomberg.com)
Clear Channel buy-out doubts grow - (www.ft.com)
CIBC Ousts Shaw, Kilgour After Debt Writedowns - (www.bloomberg.com)

Taiwan Stock Index Plunges 4 Percent - (www.ap.com)
Europe Producer-Price Inflation Accelerates to 11-Month High - (www.bloomberg.com)
FICO Speeds Rollout of New Product to Meet Lender Demands - (www.ml-implode.com)
Mortgage job losses topped 86,000 in 2007: study - (www.ml-implode.com)
Nearly 90,000 mortgage jobs eliminated - (www.ml-implode.com)
Paulson: No Easy Answer to Mortgage Woes - (www.ml-implode.com)
India Investment Booms With Third Year of 9% GDP Growth in '08 - (www.bloomberg.com)
Britons 'richer than Americans' - (news.bbc.co.uk)
U.K. Property Investors May Suffer Biggest Losses in 25 Years - (www.bloomberg.com)
Payback time - (www.ft.com)
America's inflated asset prices must fall - (www.ft.com)

Builders, Lenders Fall - (biz.yahoo.com)
Bank of America: "We've Still Got Soap" - (dealbook.blogs.nytimes.com)
Study Shows Huge Gap Between Rents and House Prices - (efinancedirectory.com)
With Lust In Our Hearths - (www.newsweek.com)
Bankruptcies jump 40 percent in 2007 - (money.cnn.com)
Case Shiller Housing Index Too Optimistic - (seekingalpha.com)
Office Vacancy Rate Rises - (online.wsj.com)
CDO Sales May Fall by as Much as 60% This Year, Citigroup Says - (www.bloomberg.com)
Wall Street Peddles Blank-Check IPOs as Returns Trail S&P 500 - (www.bloomberg.com)
Oil $200 Options Rise 10-Fold in Bet on Higher Crude - (www.bloomberg.com)
A bottom best-case for '08 housing - (www.ocregister.com)
Fund Manager Faces Legal Siege Over Mortgage Investments - (www.nytimes.com)
A bottom best-case for '08 housing - (www.ocregister.com)
Housing prices down in Norway, even with $100 oil - (www.aftenposten.no)
Manhattan real estate as measured in gold - (www.nysun.com)
Debt Threat: Credit Monster - (bbc.co.uk)
Latest Lereah Book Is More Honest - (bigpicture.typepad.com)