Tuesday April 1 Housing and Economic stories

Top Stories:

59% of Los Angles Houses for Sale Are Foreclosures - (patrick.net)
HUD chief resigns during housing crisis - (www.9news.com) – Amid scandal and housing crisis, Alphonso Jackson resigns.
Lehman to Sell $3 Billion of Shares to Raise Capital - (www.bloomberg.com) - Lehman trying to avoid a run on the bank.
New rules not providing attractive 'jumbo' loan rates in Silicon Valley - (www.mercurynews.com)
Philadelphia suspends sales of foreclosed homes - (www.reuters.com) Socialism has fully arrived. Authorities in Philadelphia will suspend foreclosure sales of homes whose owners have fallen behind on adjustable-rate subprime loan payments -- potential relief for tens of thousands of struggling debtors. Ken comment: And acceleration of the dominoes falling in the credit crisis.
A Nervous Wall St. Seems Unsure What’s Next - (www.nytimes.com)
Fed's 'Supercop' Role May Give It Headaches - (online.wsj.com) – As we have said many times, never count on the IDIOTS who got us into the situation to also get us out. If anything, we should be trying and jailing these idiots starting with the NY Fed chief.
Nearly 50 hedge funds liquidated last year - (www.financialweek.com) – Probably another 50 have suspended withdrawals.
German Watchdog Said to Eye $600 Billion in Banking Losses - (www.nytimes.com)
For Americans, a Bit of the Swagger Is Gone - (www.nytimes.com)
Tight credit doomed airline - (www.cfo.com)
Fed eyes Nordic-style nationalisation of US banks - (www.telegraph.co.uk)
Struggling houseowners find little hope in federal program - (www.mcclatchydc.com)
Spanish Property Market in Freefall - (www.businessweek.com)
Former center of subprime boom struggles with bust - (money.cnn.com)


Other Stories:

Pink Slips in a Bloodbath - (www.lewrockwell.com)
Lessons From Japan's Malaise - (www.washingtonpost.com)
Paulson Backs Regulatory Overhaul, Broader Fed Role - (www.bloomberg.com)
Paulson Plan Begins Battle Over How to Police Market - (online.wsj.com)
Bush to use tax money to guarantee foolish mortgages - (msnbc.msn.com)
McCain and the mortgage bailout - (www.csmonitor.com)
Who Needs the Mortgage-Interest Deduction? - (www.nytimes.com)
States Are Hit Hard by Economic Downturn - (www.washingtonpost.com)
The credit drought continues - (www.economist.com)
What went wrong - (www.economist.com)
Let the housing chips fall - (www.latimes.com) , Schiff
Weak economy slows cargo, idles railcars - (www.ap.com)
Real Estate Devastation Not Nearly Done - (www.sandiegoreader.com)
House prices may not stop falling till 2010 - (www.mcclatchydc.com)
Hawaii foreclosures 'slowly building' - (www.honoluluadvertiser.com)
California Sale Prices by County and City - (www.dqnews.com)
Angry Houseowners Wreak Havoc on Foreclosure Properties - (blogs.wsj.com)
Sneaking In a Bank Bailout - (tpmcafe.talkingpointsmemo.com)
Only 29 Percent of Americans Approve Mortgage Bailout - (www.efinancedirectory.com)
Bloggers' lobby: Stopthehousingbailout.com - (latimesblogs.latimes.com)
Federal Reserve Origins - (www.youtube.com)
Treasury's Plan Would Give Fed Wide New Power - (www.nytimes.com)

Wild ride in 'auction-rate securities' bond market - (www.chicagotribune.com)
Prepare for more swaps suits - (www.financialweek.com)
M&A Bankers Suffer 35% Drop in Fees as Deals Dry Up From Record - (www.bloomberg.com)
Worried hedge funds move cash - (www.ft.com)
Fed too generous with Bear bailout - (www.nypost.com)
NY real estate slump due in 2010 - (www.nypost.com)
How Weak Is M&A? The Worst Since 2004 - (www.cfo.com)
Most mutual funds retreated in 1Q - (www.azcentral.com)
Derivatives: The New Disclosure Rule - (money.cnn.com)

Bear's board was busy elsewhere - (www.financialweek.com)
Citigroup to Separate Card Unit in Banking Overhaul - (www.bloomberg.com)
Spending Trimmed for Slower Times - (online.wsj.com)
2 cholesterol drugs may have no benefit - (www.latimes.com)

Europe Inflation Accelerates to 3.5%, Sentiment Drops - (www.bloomberg.com)
China Stocks Have Worst Quarterly Drop - (www.bloomberg.com)
Singh to Tackle Wheat, Steel Prices to Curb Inflation – (www.bloomberg.com)
Japan Inflation Accelerates, Posing Risk to Consumption - (online.wsj.com)
Iceland counters alleged hedge fund attacks - (www.ft.com)
China sees the world differently - (www.iht.com)
The baton passes to Asia - (www.iht.com)
UK house prices continue to slide - (www.ft.com)

Cash management tough with low Treasury yields - (www.financialweek.com)
Chaos on Wall Street - (www.fortune.com)