Thursday March 20 Housing and Economic stories

Top Stories:

Merrill Sues XL Capital to Maintain CDO Insurance - (www.bloomberg.com) - Shares in Merrill Lynch closed down $5.18, or 11.1 per cent, at $41.45 amid fears that the bank might bear the brunt of losses relating to the bonds insured by Security Capital
Endeavour Capital Fund Falls About 28% on Japanese Bond Trades - (www.bloomberg.com)
The Great Credit Ratings Cover-Up - (www.ml-implode.com) - 'Each time the Fed swings into action, it inches ever closer to the moral hazard of an outright bailout for Wall Street.Last wee...
John Meriwether's Bond Fund Loses 24% on Credit-Market Plunge - (www.bloomberg.com)
Gold Falls Most Since June 2006 on Fed's Interest-Rate Decision - (www.bloomberg.com)
Why Bear Was Bailed Out: $13 Trillion In Derivatives - (mybudget360.com)
Bernanke, Paulson To Charge Taxpayers For Neighbors' Excessive Mortgages - (bloomberg.com)
Why mortgage rates are still heading higher - (money.cnn.com)
Fear and doubt spread in Silicon Valley - (www.sfgate.com)
Rise in serious debt among householders - (www.ft.com)
HBOS Says It Has `No Liquidity Problems'; Shares Drop - (www.bloomberg.com)
Doral Financial implicated in FBI probe – (www.ml-implode.com) - In an article yesterday, 2008-03-18, CNBC reported that Doral Financial is one of the firms implicated in the FBI's probe of 17 ...


Other Stories:

Alt-A Delinquencies Continue to Rise - (www.ml-implode.com) - 'Delinquencies on alt-A mortgages pooled into securities between 2005 and 2007 continue to rise, Standard & Poor's said in a rep...
Loan Recall - Should our government place a recall on ALL toxic mortgages? - (www.ml-implode.com) - 'Johnny gets sick at McDonald’s from a double cheeseburger tainted with ecoli. Results, a massive recall of all beef associated ...
Ambac Comments on Exposure to Bear Stearns - (www.ml-implode.com) - 'Ambac Financial Group, Inc. (today announced that it has no material exposure to Bear Stearns in its financial guaranty and fin...
Bear bailout not as bad as the alternative - (www.chron.com)
Sub-prime collapse 'beyond the US Federal Reserve' - (news.com.au)
"Wild-eyed radicals" at patrick.net? - (www.popmatters.com)
Roland Arnall, 68; founder of subprime specialist Ameriquest - (latimes.com)
The view from Mount Greenspan - (clivecrook.theatlantic.com)
Jim Rogers: Fed using taxpayer money to buy BS Maseratis - (youtube.com)

U.S. Stocks Drop, Led by Commodity Producers; Merrill Retreats - (www.bloomberg.com)
Treasuries Rise, Bill Rates Plunge on Credit Market Losses - (www.bloomberg.com)
Oil Falls Most Since August on Fed Rate Decision, Demand Drop – (www.bloomberg.com)
Yen, Franc Rise as Tumbling Commodities Fuel Carry-Trade Exit - (www.bloomberg.com)
Will the US remain US? Or become a neo-USSR? - (www.thehindubusinessline.com)
Credit Default Swaps: The Next Crisis? - (www.time.com)
How Do You Cure a Credit Bubble? Not With More Credit! - (www.seekingalpha.com)
Behind Cheaper Credit, Inflation Fears Loom - (www.washingtonpost.com)
Fed's bold moves could have psychological risks - (www.signonsandiego.com)
How low will the greenback go? - (www.economist.com)

Lower rates can hurt savers, thrifty retirees - (www.azcentral.com)
Asset-based lending makes a comeback - (www.cfo.com)
Social Security's running out of time - (money.cnn.com)
Mortgage Application Volume Declines - (www.ap.com)
Silicon Valley not immune to slowdown - (money.cnn.com)

J.P. Morgan Adds to Derivatives Muscle - (online.wsj.com)
Fannie Mae, Freddie Mac Surplus Capital Requirements Are Eased - (www.bloomberg.com)
Endeavour hit by JGB fallout - (www.ft.com)
Money-Market Rates Rise as Fed Fails to Stem Crisis – (www.bloomberg.com)
Spotlight turns on channels of liquidity - (www.ft.com)
Investment banks are borrowing from Fed - (www.reuters.com)
Fed cuts fail to lower 30-year mortgage rates - (www.latimes.com)
Confused over the credit crisis? You're not the only one - (www.iht.com)
Fed gets daring on collateral - (www.economist.com)

Lehman Taps Discount Window; Goldman Next? - (www.thestreet.com)
Fannie Mae, Freddie Mac May Be Freed From Capital Requirements - (www.bloomberg.com)
Morgan Stanley 1Q Beats Expectations - (www.ap.com)
New-vehicle sales forecast is lowered - (www.latimes.com)
Subprime Loss Strikes Health Insurer - (www.cfo.com)
Future of coal power under fire - (www.stateline.org)
Thornburg May Face Deadline for Bankruptcy in a Week - (www.bloomberg.com)
Fox passes CBS as most-watched network - (www.latimes.com)
Delta to cut 2,000 jobs as price of oil soars - (www.latimes.com)
Executives say fear about economy may have cooled merger fever in airline industry - (www.signonsandiego.com)
Web ad spending forecast revised with economic woes - (www.signonsandiego.com)
Delta offers payout to 30,000 workers - (www.azcentral.com)
AZ payday lenders told to shut down - (www.stateline.org)

Societe Generale Drops as BNP Paribas Says It Won't Seek Merger - (www.bloomberg.com)
Vietnam Tries to Cut Loose From Falling Dollar - (online.wsj.com)

US economist calls financial crisis worst since 1930s - (economictimes.indiatimes.com)
Why today’s hedge fund industry may not survive - (www.ft.com)
Plaza Hotel Reopens as Yen, Dollar Need Accord: William Pesek - (www.bloomberg.com)
Subprime Mortgage Meltdown Renews Urban Blight: Gene Sperling - (www.bloomberg.com)
The Week That Shook Wall Street: - (online.wsj.com)