Tuesday March 18 Housing and Economic stories

Top Stories:

Buffett Was Right: Derivatives Are Destructive: Tech Ticker, Yahoo ... – (finance.yahoo.com)
Video: Cramer 1 Week Ago: "Don't Move Your Money From Bear" - (www.ml-implode.com) - Another classic Cramer video - Keep diggin' yourself deeper, buddy.
Ken Lay's widow sued over condo fee - (www.reuters.com) – Association in wealthy Houston subdivision sues Lay over back condo fees.
Housing Group Challenges Fed's Bear Stearns Deal - (www.nytimes.com)
Paulson defends U.S. rescue of Bear Stearns - (news.yahoo.com)
Lewis takes $1 billion hit from Bear Stearns - (news.yahoo.com)
Bear fire sale sparks rout on eve of Fed rate cut - (news.yahoo.com)
Greenspan: Economy worst since WWII - (www.ml-implode.com)
Jim Rogers: "Abolish the Federal Reserve" - (patrick.net)
Consumer groups decry Bear Stearns bailout as homeowners suffer - (www.marketwatch.com)
Dollar Slumps Below 96 Yen to 12-Year Low on Subprime Losses - (www.bloomberg.com)
With oil soaring to over $110 a barrel, those Hummers and homes in far-flung suburbs just got even more worthless - (www.ml-implode.com)
Shock widening in Fannie and Freddie debt - (www.ft.com)


Other Stories:

Big Losses for PMI Company and HR Block Unloads Option One - (www.ml-implode.com) - 'PMI Group, one of the largest private mortgage insurance companies, reported a record loss of $1.01 billion or $12.51 a share f...
Chevy Chase shuts down Construction-to-Perm - (www.ml-implode.com) - "Effective Immediately, Chevy Chase CP has been shut down." "There was no warning, only a voice mail message when you call the ...
Citi Home Equity To Close; ML Premium Forum Launches - (www.ml-implode.com) - Read more in the latest ML Premium Alert. Don't miss out --click through to join (only $10/mo; cancel-anytime subscription).
Sub-prime mortgage watchdogs kept on leash - (www.ml-implode.com)
The Consumer Continues to be Mislead and Swindled = Business as Usual in America - (www.ml-implode.com)
Fed acts Sunday to prevent global bank run Monday - (www.ml-implode.com)
We're Headed for a Depression - (www.ml-implode.com)
The Fed's Desperation Move - (www.ml-implode.com)
"US losing confidence vote as investors flee" - (www.ml-implode.com)
A Fed Bailout Crosses a Line - (www.nytimes.com)QA: Bear Stearns banking crisis - (news.bbc.co.uk)
Bernanke, Read This Book on Greenspan's Bubbles - (http://www.bloomberg.com/)
Fed Bailout Saves Lenders at the Expense of Taxpayers - (http://www.efinancedirectory.com/)
Betting the Bank - (http://www.nytimes.com/)
Time for Greater Oversight of Mortgage Lenders? Duh! - (seekingalpha.com)
Fed Efforts Foiled By Banks as Mortgage Rates Rise - (http://www.bloomberg.com/)
Lenders Face Still More Misery - (http://www.businessweek.com/)
Lowball Offers on the Rise - (http://www.nytimes.com/)
More in foreclosure choose to walk away - (http://www.sfgate.com/)
Bay Area Real Estate: Wait 2 Months; Save $50,000 - (http://www.erica.biz/)
San Diego house prices fall 13.5% from last year - (http://www.signonsandiego.com/)
How Debt Bites Back - (http://www.washingtonpost.com/)
Foreclosure impact Underestimated? - (http://www.metrojacksonville.com/)
From 2006 but still accurate - Jerusalem Housing Bubble - (http://www.fonerbooks.com/)
Get Your Bank Really Pissed Off About Your Loan - (www.lectlaw.com)

Dollar Slumps Below 96 Yen to 12-Year Low on Subprime Losses - (www.bloomberg.com)
Oil Falls More Than $4 on Signs U.S. Economy Entered Recession - (www.bloomberg.com)
Gold Pares Gains to Record as Global Equities, Dollar Tumble - (www.bloomberg.com)
Most U.S. Stocks Drop on Bear Stearns Sale; Europe, Asia Plunge - (www.bloomberg.com)
Treasuries Rise; 3-Month Bill Rates Fall to Lowest Since 1950s - (www.bloomberg.com)

Fed Acts to Rescue Financial Markets - (www.nytimes.com)
Bernanke Plays `Whac-A-Mole' With Turmoil in Markets - (www.bloomberg.com)
New York Fed March Factory Index Falls to Record Low - (www.bloomberg.com)
Krugman on the crisis - (www.fortune.com)
Fed Takes Broad Action to Avert Financial Crisis - (www.washingtonpost.com)
U.S. February industrial production falls 0.5% - (www.marketwatch.com)


Fed to the rescue - (www.nypost.com)
Another Source of Quick Cash Dries Up - (online.wsj.com)
Carlyle Capital to file to liquidate the firm - (www.marketwatch.com)
A Visible Hand Reluctantly Grows Heavier - (www.cfo.com)
Finance Execs Get Top Board Pay - (www.cfo.com)
Sub-prime mortgage watchdogs kept on leash - (www.latimes.com)

Auction-Bond Failures Deplete New Hampshire Universities Fund - (www.bloomberg.com)
A Red Flag for Bank Liquidity - (www.businessweek.com)
Jim Rogers Says Fed Support of Bear Stearns `Outrageous': Video - (www.bloomberg.com)
National Century CFO, Four Others Guilty - (www.cfo.com)
Hedge Funds, Once a Windfall, Contribute to Bear's Downfall - (online.wsj.com)
PMI Swings to $1 Billion Loss in 4Q - (www.ap.com)
MF Global Plunges on Concern Customers Pulling Funds - (www.bloomberg.com)
Shock profit warning from Siemens - BBC
QA: Bear Stearns banking crisis - (news.bbc.co.uk)
Bernanke, Read This Book on Greenspan's Bubbles - (www.bloomberg.com)Fed Bailout Saves Lenders at the Expense of Taxpayers - (www.efinancedirectory.com)Betting the Bank - (www.nytimes.com)Time for Greater Oversight of Mortgage Lenders? Duh! - (seekingalpha.com)Fed Efforts Foiled By Banks as Mortgage Rates Rise - (www.bloomberg.com)Lenders Face Still More Misery - (www.businessweek.com)Lowball Offers on the Rise - (www.nytimes.com)More in foreclosure choose to walk away - (www.sfgate.com)
UBS Drops Most in Nine Years on Report of Job Cuts - (www.bloomberg.com)
A Bear Stearns Market - (www.washingtonpost.com) , Jim Grant
A lack of trust spells crisis in every financial language - (www.ft.com)
The B Word - (www.nytimes.com)
The Buck Stops Where? - (online.wsj.com)