Wednesday February 13 Housing and Economic stories

Top Stories:

Former Knick Sprewell having financial problems - (www.newsday.com)
Project Lifeline: A Lifeline For Who? (banks and business of course)? - (Mish at globaleconomicanalysis.blogspot.com)
Government throws out 200 years of contract law, Banks to pause delinquent mortgage foreclosures - (us.rd.yahoo.com)
Buffett's Kiss of Death - (Mish at globaleconomicanalysis.blogspot.com)
MBIA, Ambac Bond Risk Jumps as Buffett Offer Shuns `Toxic' Debt - 'The risk of bond insurers MBIA, Ambac defaulting rose after billionaire Warren Buffett offered to ... - (www.ml-implode.com)
Too Many McMansions: Ride Storm or Sell? - (abcnews.go.com)
Credit card debt related to housing crash - (news.rgj.com)
Florida Taking Its Toll - (Brothers) On Daughter's Condo - (http://www.cnbc.com/)
Municipal Market Is Beset By Wave of Auction-Bond Failures - (www.bloomberg.com)
Student-Loan Issues Under Stress - (online.wsj.com)
Bad Bets and Accounting Flaws Bring Staggering Losses - (www.nytimes.com)
Macklowe Receives Default Notice As His Debt Negotiations Stall - (online.wsj.com)
AIG Is Forced To Write Down Mortgage Links - (www.washingtonpost.com)
Standard Chartered's SIV forced into receivership - (www.ml-implode.com)
MoneyGram to get $710 million bailout - 'An investment group led by private equity firm Thomas H. Lee Partners and Goldman Sachs & Co. will invest $710 million in St. L... - (www.ml-implode.com)


Other Stories:

Wage Freeze for Teachers and Wage Cuts for GM - (Mish at globaleconomicanalysis.blogspot.com)
One Month Free Rent - (Mish at globaleconomicanalysis.blogspot.com)
2 experts see housing slump just beginning - (http://www.chron.com/)
Researchers predict 'generational' dive could cause a major price downfall - (http://www.latimes.com/)
A Single Tax On Land - (patrick.net)
Assured Guaranty Loses $260 Million in Q4, First American Downgraded - Both at HousingWire. Link for Assured is above; here's a direct link to the First American article. - (www.ml-implode.com)
Spanish banks' reliance on ECB surges with €44bn borrowing - The ECB has effectively funded new lending in Spain in recent months, replacing banks' use of wholesale capita... - (www.ml-implode.com)

Company Debt Risk Soars as AIG Fuels Concern of Credit Losses - (www.bloomberg.com)
Government, banks to unveil borrower aid program - (www.chron.com)
Budget deficit running at faster pace - (www.businessweek.com)
America's Free-Falling Housing Markets - (www.forbes.com)
The Mother of All Rip-offs: Fannie Mae - (elainemeinelsupkis.typepad.com)
Greed, Fraud and Duplicity: How the Bubble Inflated - (Charles Hugh Smith at http://www.oftwominds.com/)
Why are lenders still writing questionable loans? - (eyeonmiami.blogspot.com)
O.C. distressed houses for sale up 18% this year - (mortgage.freedomblogging.com)
Fed's Rate Cuts Bring No Relief For Consumers' Credit Card Bills - (http://www.washingtonpost.com/)
Buffett Offers to Assume Muni Liabilities of Insurers - (www.bloomberg.com)
Multiple muni issuers see notes fail at auction - (www.reuters.com)
Mortgage Crisis Spreads Past Subprime Loans - (www.nytimes.com)
Mergers play slower tune - (www.azcentral.com)
GM Has Loss of $722 Million on North America Costs - (www.bloomberg.com)

Banks Need Bailouts, But Where's The Money? - (Mish)Credit Woes may "widen" - (optionarmageddon.blogspot.com)Scrutiny Tightens for Title Insurers - (online.wsj.com)
Marsh & McLennan's profit falls 62% - (money.cnn.com)
Japan Wholesale Inflation Rises to Fastest Since 1981 - (www.bloomberg.com)
AIG sparks fears over European insurers - (www.ft.com)
AIG Falls on Concern Losses May Have Been Understated - (http://www.bloomberg.com/)
Cutting to the Quick - (http://www.nytimes.com/)
At the Heart of Deepening Monetary Disorder - (http://www.prudentbear.com/)
WSJ: Homes Remain "Wildly Overvalued" - ``There is a strong long-term correlation between the two figures. And in many regions, house prices would still have to fall a ... - (www.ml-implode.com)
Second-Order Effects Coming Thick and Fast - (www.ml-implode.com)
Major Banks to Unveil Plan to Freeze Foreclosures - (www.ml-implode.com)
Mortgage Crisis Spreads Past Subprime Loans - (www.ml-implode.com)
Credit Suisse Slips on Fears of More Writedowns - (www.ml-implode.com)