Tuesday February 5 Housing and Economic stories

Top Stories:

Ambac CFO, other execs get 2007 bonuses - (money.cnn.com)
Mortgage brokers scramble for survival (back to the $35K per year jobs that you deserve) - (www.ajc.com)
China food shortage and knife fights on a journey from hell - (online.wsj.com)
States Scooping Up Assets From Millions of Americans - (online.wsj.com)
Wells Fargo’s home equity headache - (dailybriefing.blogs.fortune.cnn.com)
New Debit Card Borrows Against 401k - (www.myfoxdc.com)
Fannie loan limit increase is a gift to the well-off - (www.csmonitor.com)
DR Horton warns of grim 2008 - (www.star-telegram.com)
The Boom Was a Bust For Ordinary People - (www.washingtonpost.com)
US budget deficit set to hit $410bn - (www.ft.com)
Home equity loan defaults soar - (www.fortune.com)
Can't Pay Your Mortgage? Trash Your House and Leave - (www.alternet.org)
Getting Knocked Down by Prime ARMs - (www.businessweek.com)
Beazer exits mortgage business - (money.cnn.com)
Many unaware of mortgage aid - (money.cnn.com)


Other Stories:

UPDATE: Pinnacle Financial Corp. (Impac) Retail is Gone. - With the announcement of their 2007 third quarter results on 2007-12-21, Impac said "the Company has closed... - (www.ml-implode.com)
First Franklin - Merrill Lynch -- Update - We were sent the following regarding January's business: "3 loans funded for the company for $350,000 - two from the Phoenix branch.. - (www.ml-implode.com)
Tax rebates may be a roll of the dice - 'Gaming analysts expect many consumers will gamble their rebates, and casinos want in on the action.' - (money.cnn.com)
Stimulus Plan a Scam to Benefit the Rich - (www.sfgate.com)
Citigroup Decides to Exit Warehouse Mortgage Lending - (www.housingwire.com)
The Credit Crunch – In 2008 The Worst May Keep Getting Worse - (www.eurointelligence.com)
First Horizon Home Loans - Retail added to Ailing/Watch List - (www.ml-implode.com)

Oil Rises After Turkish Planes Attack Suspected Kurdish Bases - (www.bloomberg.com)
Ten-Year Treasuries Decline as Rate Cuts Erode Demand for Debt - (www.bloomberg.com)
Platinum Rises to Record on Mine Disruptions; Palladium Gains - (www.bloomberg.com)
Fed Says U.S. Banks Are Tightening Lending Standards - (www.bloomberg.com)
U.S. Concern Over Economy Is Highest in Years - (www.washingtonpost.com)
Inflation adds to economy's woes - (www.philly.com)
Bush Boosts Defense Spending in $3.1 Trillion Budget - (www.bloomberg.com)
The Fed writes a new economic script - (www.economist.com)
G-7 Frets Central Banks Can't Avoid Peril Without Helping Hand - (www.bloomberg.com)
Belt-tightening among wealthy shoppers could choke other households - (www.ocregister.com)

Credit squeeze threatens to crush buy-outs - (www.ft.com)
The Unsavory Cost of Capping Food Prices - (online.wsj.com)
The crisis in banking - (www.ft.com)
Fuel charge raising cost of airfares - (www.chicagotribune.com)
China's Stocks Rise by Most on Record: World's Biggest Mover - (www.bloomberg.com)
Australia admits 'substantial' inflation problem – (www.ft.com)
French finance minister calls for tighter risk-control measures at banks - (www.iht.com)
Rich foreigners planning to leave UK - (www.ft.com)

Why I Support Ron Paul - (www.huffingtonpost.com)
Feb Listing Prices in CA - (patrick.net)
Fresno Situation - (patrick.net)
Polls Show Americans Split on Mortgage Bailout - (homeguide123.com)
Banks Pretend Deferred Payments Are Income - (patrick.net)
Option ARMs, next chapter in U.S. housing crisis - (www.reuters.com)
Fed's main task: Save the banks - (www.csmonitor.com)
Banks Don't Pay Property Tax On Foreclosured Houses? - (patrick.net)
The Fed's Bank-Aid subsidy - (latimesblogs.latimes.com)
Who cares for the dollar? Not the Fed, surely! - (www.rediff.com)
Housings a Mess, But be Careful Fighting the Fed - (www.financialsense.com)
Lowball! - (njrereport.com)
Perhaps a bit too stimulated - (www.latimes.com)