Thursday March 13 Housing and Economic stories

Top Stories:

Freddie CEO: House Prices have Fallen One Third of the Way - (www.ml-implode.com)
Carlyle Capital says unable reach deal with lenders – (news.yahoo.com) – Carlyle Capital, an affiliate of Carlyle Group (David Rubenstein, Co-Founder and Managing Director) has defaulted on $16.6B in debt.
$15,000 Rebate Checks For All Home Buyers - (www.wsbtv.com). Latest goofy idea by Georgia Senator, who is also a realtor as well….. not a surprise.
An American Nightmare -- Carlisle Condominiums in FL - (www.ccfj.net) - Really good story. Condo Association is short $300K it needs for new elevators, because owners of nearly 60 of the building’s 115 units aren’t paying maintenance fees. Nine of those units are owned by banks who also aren’t paying condo association fees.
Dollar Trades at Record Low Versus Euro as Fed Destroys America - (www.bloomberg.com) - I would add certain key politicians to this list as well.
Feb budget gap balloons to record $175.56 bln - (www.reuters.com) – So much for Bush balancing the budget
Despite the Federal Reserve's efforts Wall Street fears a big US bank is in trouble - (business.timesonline.co.uk) - The name on most people's lips was Bear Stearns
Berkshire Sees Greater Risk in Debt of States, Cities - (www.bloomberg.com) Fiscal stress in Vallejo, CA, and Jefferson County, Alabama, may be the ``tip of the iceberg'' for municipal defaults, said Jain, who runs Warren Buffett’s Berkshire Hathaway Assurance Corp.
Home loan demand drops as rates near 5-month high - (www.reuters.com)
High Finance Backfires on Alabama County - (www.nytimes.com)
GO Capital Halts Investor Redemptions From Global Hedge Fund - (www.bloomberg.com)
Drake Management May Shut Down Largest Hedge Fund After Losses - (www.bloomberg.com)
Drake's rocky passage - (money.cnn.com)
Credit squeeze hits three more hedge funds - (www.ft.com)
Moody's, S&P Defer Cuts on AAA Subprime, Hiding Loss - (www.bloomberg.com)
Hedge Funds Reel From Margin Calls Even on Treasuries - (www.bloomberg.com)
Another Plan to Destroy the Economy - (www.fool.com)
Treasuries Riskier Than Bunds, Default Swaps Show - (www.bloomberg.com)
Pressures Grow for Good Appraisals and Bad - (www.washingtonpost.com)


Other Stories:

Congress Considers $15,000 Rebate Checks For All Home Buyers - [2008-03-12] - Isakson is pitching an idea to his colleagues in Congress: a $15,000 tax rebate check to anyone who agrees to buy a home. Congre... - (www.ml-implode.com)
ING Suspends Stated Income Loans - ``Interesting to note that the bank claims that performance of the loan isn’t the issue; rather the perception of a problem by t... - (www.ml-implode.com)
ING New Zealand Suspends Withdrawals From Two Funds - (www.ml-implode.com)

Night of the Living Fed - (Mish at economicanalysis.blogspot.com)
Bernanke Seeks to Avert Deeper Slump by Accepting Mortgage Debt - (www.bloomberg.com)
Fed Hopes to Ease Strain on Economic Activity - (www.nytimes.com) , Andrews
Mortgage Delinquencies Indicate Future Foreclosures - (seekingalpha.com)
Banks See Home-Equity Losses Soar - (online.wsj.com)
Oil down after data show surprise inventories build - (www.marketwatch.com)
Wachovia: Housing woes are far from over - 'Wachovia Corp., which continues to defend its $24 billion purchase of a California mortgage lender, said Wednesday the downturn... - (www.ml-implode.com)
Homewide Lending Update - In an email sent to us today, COO Rick F. Jiao said "Homewide Lending did not layoff everybody on March 7, 2008. This rumor is c... - (www.ml-implode.com)

Humana, Following WellPoint, Cuts Earnings Forecast - (www.bloomberg.com)
March sales growth could slump to 1%, analysts say - (www.chicagotribune.com)
Rate Cuts May Not Be Enough - (blogs.wsj.com)
Rhode Island real-estate market continued to deteriorate - (www.projo.com)
Fannie, Freddie Stock Issues Could Either Dilute or Drown - (online.wsj.com)
Toll Bros. hints at joint-venture problems - (www.philly.com)
Fed keeps spiking the hogs' punchbowl - (www.idahostatesman.com)
The Face-Slap Theory - (www.nytimes.com)

Hedge funds on the brink as US Federal Reserve cash fails to ease crisis - (business.timesonline.co.uk)
Credit Crunch's Impact On U.K. Housing Worsens - (online.wsj.com)
French Inflation Stays at 3.2%, Fastest in 12 Years - (www.bloomberg.com)
Concern grows over global trade regulation - (www.ft.com)
Japan central bank in turmoil as opposition rejects Muto - (www.iht.com)
India Industrial Production Growth Unexpectedly Slows - (www.bloomberg.com)
What Do Foreclosures Look Like Up Close? - (eyeonmiami.blogspot.com)
Bernanke in July 2007: "Subprime hit could top $100B" - (money.cnn.com)
Rents on houses disappoint landlords - (www.azstarnet.com)
The Fed offers to buy dodgy mortgage loans - (www.time-blog.com)
Zuckerman Says U.S. Economy May Face `Perfect Storm' - (www.bloomberg.com)
Going, going, gone: a rising auction of scary scenarios - (www.ft.com)
Fed takes leap towards the unthinkable - (www.ft.com)
Teen columnist: For adults, foreclosure is payback time - (www.tucsoncitizen.com)
Housing Is Down; Housing Shows Aren't - (cpnmhn.typepad.com)