Tuesday February 19 Housing and Economic stories

Top Stories:

Bad Idea - Equities lure US pension guarantor in order to plug $14B shortfall - (www.ft.com)
Bush Administration Shuts Down Economic Indicators Site - (www.thinkprogress.org)
Banks Denying Approval on Most Miami Condo Mortgages - (seekingalpha.com)
Franklin builder seeks protection in bankruptcy - (www.ml-implode.com) – another builder bites the dust
Some Homeless Squat in Foreclosed Houses - (www.ml-implode.com)
'Worst month ever' for San Jose house sales - (www.mercurynews.com)
SF East Bay prices fall 20% from peak, still falling - (eastbayhousingbubble.blogspot.com)
SF Bay Area house sales fall to 20-year-low - (www.sfgate.com)
From Foreclosure Signs to Auto Repo Lots - (www.washingtonpost.com)
Corporate Debt Looms as Next Bank Debacle – (online.wsj.com)
Ambac in Talks to Split Itself Up - (online.wsj.com)
Now, Lehman Gets Pelted - (online.wsj.com)
US banks borrow $50bn via new Fed facility - (www.ft.com)
Citigroup bars investor exits from hedge fund - (www.usatoday.com)


Other Stories:

No Lull in Mortgage Pitches - ``National Association of Realtors is running national television ads saying there has never been a better time to buy... - (www.ml-implode.com)
U.S. Credit Markets Collapsing! - ``Bottom line: There's no scenario that ends in a soft landing for the bond insurers. The underlying assets are rotten. The cred...
Housing Starts May Hold Near 16-Year Low: U.S. Economy Preview - 'Housing starts in the U.S. probably remained near a 16-year low in January, a sign the deepest housing recession in a quarter c...
Shadows of the CDS Market - 'No one knows how troubled the credit swaps market is, because, like the now-distressed market for subprime mortgage securities,...
Fury over Rock nationalisation - 'Alistair Darling on Sunday announced the first nationalisation of a sizeable British bank in a quarter of a century as he put N...
"Wedding" Invitations Worth Refusing - (www.ml-implode.com)
A land bank for foreclosed properties? - (www.ml-implode.com)

With Northern Rock, Crisis Enters Bailout Era - (online.wsj.com)
Oil rises towards $96, buoyed by supply risks - (www.reuters.com)
Bond Insurer Split May Trigger Litigation, Bank of America Says - (www.bloomberg.com)
Caught between hope and trouble ahead - (www.ft.com), Mackenzie
Wall Street Faces Fury Over Subprimes - (www.ap.com)
SF Bay Area prices fall below $500K in four counties - (contracostatimes.com)
Rate cuts stall LBO debt - (online.wsj.com)

China's Inflation Quickens to Fastest in 11 Years; Pace Is 7.1% - (www.bloomberg.com)
U.K. May Keep Northern Rock Nationalized for Years - (www.bloomberg.com)
Countrywide says foreclosure rate at new record - (www.washingtonpost.com)
Real Estate Brokers Must Hate Economists - (seekingalpha.com)
Hard Times Heighten Long-Felt Unease - (www.breitbart.com)
Welcome to a deleveraging world - (businessspectator.com.au)
How to invest as the bubble pops - (www.businessweek.com)
Sell Your Real Estate Immediately - (www.marketoracle.co.uk)
Canada Factory Sales Fall Most Since `03, Autos Drop - (www.bloomberg.com)
Credit Crunch May Start to Bite Eastern Europe - (www.cnbc.com)
Lax banks blamed for defaults - (www.ft.com)
Housing Bottom Nowhere in Sight - (Mish)
U.S. Consumer Sentiment Drops to 69.6, lowest since 1992 - (www.bloomberg.com)
Sidelined house buyers frozen by fears - wisely - (www.reuters.com)
Arcane Swaps Market Is Next to Face Big Credit Test - (www.nytimes.com)
Major private mortgage insurer gets tough with buyers - (www.sfgate.com)
You're Invited . . . To Pay Your Mortgage - (www.washingtonpost.com)
Subprime Primer - (docs.google.com)