Wednesday March 12 Housing and Economic stories

Top Stories:

Fed flow primes Asia's pump - (www.marketwatch.com) Japan, Australia lead region's rally as Asian investors respond to U.S. central bank's $200 billion infusion into banking system to ease credit crunch.
Stocks soar after Fed move - (www.marketwatch.com) Dow adds 416 points, biggest percentage gain in more than five years, after Fed moves to calm financial markets.
Fed Rally on Garbage Paper! - 'Before we continue, let'sd understand what the Fed actually did: Rather than merely expanding the existing Term Auction Facilit... - (www.ml-implode.com)
Fed action may have targeted Bear Stearns: analyst - (www.marketwatch.com) – Rumor is floating that the injection of liquidity today was targeted at rescuing Bear Stearns.
Bill proposes buying foreclosed homes - (www.marketwatch.com)
Fed to Lend $200 Billion, Take on Mortgage Securities - (www.bloomberg.com) – smells like it could be an implicit bailout to me..
Housing Bubble Hall of Shame: Leslie Appleton-Young - (realestaterecord.blogspot.com)
Toll Warns of Risk Tied to Ventures - (online.wsj.com)
Derivatives the new 'ticking bomb' - (www.marketwatch.com)
U.S. States Revolt Against Muni Credit-Rating System: Joe Mysak - (www.bloomberg.com)
Luxury home market loses lustre - (www.ft.com)
Buyout Industry Staggers Under Weight of Debt - (www.nytimes.com)
Carlyle Fund Seeks Halt to Liquidation - (www.nytimes.com)
Citigroup Acts to Bolster Hedge Funds - (www.nytimes.com)
Is Fannie Mae the Next Government Bailout? - (online.barrons.com)
Fannie, Freddie stocks dive; Barron's article weighs - (www.reuters.com)
In the U.S., the economy and banking are pushing each other downhill - 'Banks, starved of capital, are calling in their debts, turning clients, notably hedge funds, into forced sellers, as large swat... - (www.ml-implode.com)


Other Stories:

Derivatives the new 'ticking bomb' - "There's nothing intrinsically scary about derivatives, except when the bad 2% blow up." Unfortunately, that "bad 2%" did blow ... - (www.ml-implode.com)
The financial world is rapidly spinning out of control - 'It's just darn near impossible to keep up with current events in a financial world where things seem to be rapidly spinning out... - (www.ml-implode.com)
Mortgage mess becomes prime territory for law firms - (www.ml-implode.com)
Irish home builders see further output fall in 2009 - (www.reuters.com)
Foreclosure crisis has ripple effect - (www.ml-implode.com)
Fed turns on the spigot of money again - (www.ml-implode.com)
Treasuries Decline as Fed to Accept Agency Debt as Collateral
Moody's, S&P Defer Cuts on AAA Subprime, Hiding Loss - (www.bloomberg.com)
Thornburg Mortgage restates 2007 financials, satisfies $1.2B in margin calls - (money.cnn.com)
UAE task force to review dollar peg - (www.arabianbusiness.com)
Dr. Strangelove: Trial Ballooning More Disasters - (www.wallstreetexaminer.com)
Thornburg Restates Financials, In Discussions to Meet Margin Calls - 'Thornburg Mortgage said today that it filed its amended financial statement with the SEC and was in discussions with its lender... - (www.ml-implode.com)

Treasuries Decline as Fed to Accept Agency Debt as Collateral - (www.bloomberg.com)
Gold Rises as Oil Surge Boosts Demand for Inflation Hedge - (www.bloomberg.com)
Oil Rises to Record for Fifth Day in New York as Dollar Drops - (www.bloomberg.com)
U.S. Stocks Rally on Fed's Plan to Lend Up to $200 Billion - (www.bloomberg.com)
Good times are over, central bankers told - (www.ft.com)
Will Fed Try Something New to Aid Markets? - (online.wsj.com)
Employers cut back on hiring - (www.ft.com)
U.S. January Trade Deficit Rises 0.6%; Exports Gain - (www.bloomberg.com)
Surging costs of groceries hit home - (www.bostonglobe.com)
Paying at the Pump, in a Big Way - (www.nytimes.com)
Economic woes lead to retail retrenchment - (www.ap.com)
Record fuel prices blow budgets - (www.usatoday.com)
Weak Dollar Feels New Stress - (online.wsj.com)
Tighter standards hit high grade bonds - (www.ft.com)
Eaton Vance to buy back auction-rate stock - (www.latimes.com)
Bank crackdown driving hedge funds into crisis - (www.chicagotribune.com)
Foreign firms big players in weak M&A environment - (www.cfo.com)
401(k)s tapped to save homes - (www.usatoday.com)
Pacifica Prices Plunge - (http://www.pacificariptide.com/)
Next shoe to drop: Prime mortgages - (articles.moneycentral.msn.com)
Non-Borrowed Reserves of Banks - (research.stlouisfed.org)
Here Comes The Humpty Dumpty Economy - (online.barrons.com)

Texas Instruments Lowers Profit Forecast - (www.nytimes.com)
Retail Retrenchment Hurts Malls - (www.chicagotribune.com)
Is Target Corp.'s Credit Too Generous? - (online.wsj.com)
Texas Instruments cuts outlook - (money.cnn.com)
More houseowners just walking away from their mortgages - (http://www.sacbee.com/)
Mortgage lenders see more borrowers give up - (http://www.usatoday.com/)
Why Washington's rescue cannot end the crisis - (blogs.ft.com)
Lehman Lays Off 1,400 As Writedowns Loom - (www.nypost.com)
Morgan Stanley Chief Grappling With New Risk - (www.nytimes.com)
Nowhere Near a Real Estate Bottom - (seekingalpha.com)
Map of Misery Shows CA Mortgages Most Unstable - (http://www.businessweek.com/)
China's Inflation Surges to 8.7% as Food Prices Soar - (www.bloomberg.com)
ECB president criticizes volatility of currency markets - (www.iht.com)
Food and Energy Shortages Stoke Inflation, Anxiety in Pakistan - (www.washingtonpost.com)
Taxpayer Bailout for Foolish Borrowers Will Arrive by October - (seekingalpha.com)
Sue the Realtors and Mortgage Brokers - (http://www.seekingalpha.com/)
eporter Fired For Not Hyping Bubble? - (bendbubble2.blogspot.com)
It's The Credit Bubble, Stupid - (www.forbes.com)