Monday February 18 Housing and Economic stories

Top Stories:

Celebrities Not Immune to the Real Estate Crisis - (www.ml-implode.com)
NY governor warns of 'financial tsunami' - (news.yahoo.com/s/afp)
Struggling Citigroup hedge fund bars withdrawals -(online.wsj.com) - (www.reuters.com)
Another Attempt to Ameliorate the Housing Situation Proposed - ''A second, potentially far-reaching provision would change the bankruptcy code to remove the prohibition on modifying the mortg... - (www.ml-implode.com)
Billions taken out of top UK mutual funds - (www.ft.com)
David Walker Gives Up - From the "what took so long" department... - (www.ml-implode.com)
Utilities urged to help consumers - (www.chron.com)
Minneapolis based Wilson - The Leather Experts closing most mall stores - (www.ajc.com)
Consumer Confidence in U.S. Declines to 16-Year Low as Labor Market Cools - (www.bloomberg.com)
Regulator in crisis talks to save bond insurers - (www.ft.com)
MBIA, Ambac Rescue May Be Set Before Ratings Are Cut - (www.bloomberg.com)
Hmmm, Freddie Mac Lower Requirements for Mortgage Insurers - (www.bloomberg.com)
When A House's Value Continues Dropping, Is It Smart To Just Walk Away? - (www.cbsnews.com)


Other Stories:

Crowding Out - ``As a result of this panic into “safety”, other sectors of the credit market are shutting down. Meanwhile, we’ve had a bubble i... - (www.ml-implode.com)
Loan crisis goes to college - (www.ml-implode.com)
Another victim of foreclosures: day laborers - (www.ml-implode.com)
Muni Bonds Lose Buyers As Credit Crisis Spreads - (www.ml-implode.com)
The Hidden Costs of The Auction Failures - (www.ml-implode.com)

New York Fed Manufacturing Index Dropped to -11.7 in February - (www.bloomberg.com)
Area valuations drop, but property tax may not - (www.azcentral.com)
Top Officials See Bleaker Outlook for the Economy - (www.nytimes.com)
Credit crunch looms large for small business - (www.reuters.com)
Where Will the Crunch Hit Next? - (online.wsj.com)
Bond insurer breakups could hurt Wall Street - (www.reuters.com)
US credit crisis escalates as defaults spread - (telegraph.co.uk)
Real interest rates skyrocket - (biz.yahoo.com)
Banks to ask government - (=taxpayers=YOU) to take their bad loan risk - (biz.yahoo.com)
The Banks Blinkedbut Taxpayers Still at Risk - (moneynews.newsmax.com)
Lifeline for Whom? - (www.nytimes.com)
Muni Regulators Seek Disclosure on Auction-Rate Bonds - (www.bloomberg.com)
Municipalities Feel Pinch as Another Debt Market Falters - (www.nytimes.com)
New Trouble in Auction-Rate Securities - (www.nytimes.com)
Countrywide says foreclosure rate at new record - (www.reuters.com)
SEC Probes Dozens of Subprime Lenders - (www.cfo.com)
Pictures of bear markets - (money.cnn.com)
Closed-End Funds That Wield Leverage Expect Trading Delays - (online.wsj.com)

Values on most houses in Phoenix metro area have dropped - (www.azstarnet.com)
Downturn forces consumers to rethink what they want in a house - (www.marketwatch.com)
How to end mortgage fraud - (www.lendingsanity.com)
Bay Area house sales fall to 20-year-low - (www.sfgate.com)
California house prices still unaffordable - (www.sfgate.com)
Lake Mead, Key Water Source For Southwestern US, Could Be Dry By 2021 - (www.sciencedaily.com)
Predatory Lenders' Partner in Crime - (www.washingtonpost.com)
A Labyrinthine Path to Justice - (www.washingtonpost.com)

Bond insurers may face breakup - (www.thestreet.com)
Banks at Risk From $203 Billion Writedowns, Says UBS - (www.bloomberg.com)
A Split-Up of Insurers of Bonds Is Considered - (www.nytimes.com)
Trade group squeezes Fannie & Freddie - (money.cnn.com)
Radian Posts $618 Million Loss in 4Q - (www.ap.com)
Everyone Wants A Bailout - (Mish at http://globaleconomicanalysis.blogspot.com/)
Paulson on the Hindenburg: The worst is just beginning - (elainemeinelsupkis.typepad.com)
Calif. house price off 18.7%, nation's worst - (lansner.freedomblogging.com)
hift Risk to Uncle Sam? - (riskmoment.com)
More Bad News from Fannie Mae? - (seekingalpha.com)
Natixis writedown triggers shockwave - (www.ft.com)
UBS reveals $26 billion US loans shock - (business.timesonline.co.uk)
Look out below if long rates go higher - (www.latimes.com)
Project Lifeline: A Few Feet Shy - (www.businessweek.com)
A Crisis of Faith - (www.nytimes.com)
Make Big Profits Illegally (and Maybe Keep Them, Too) - (www.nytimes.com)