Wednesday April 2 Housing and Economic stories

Top Stories:

WaMu Alt-A Pool Deteriorates Further - (www.ml-implode.com) - ``The problem should be clear. In no way shape or form, should any package of liar loans been rated AAA.''
Pardus $2 billion hedge fund suspends withdrawals – (www.reuters.com) – Now hedge funds don’t seem like such a good idea anymore, especially when they halt all redemptions
Subprime vets saw their industry, finances vanish in a flash - (money.cnn.com) – Very good story about a real life married couple in San Clemente CA working at New Century and other subprime powerhouses.
Closer Look At The ARMs Reset Problem - (www.ml-implode.com) - The Fed vaporized much of the ARM reset problem in 2008-2009 by slashing interest rates. This is especially true for those in 3-...
JPMorgan memo shows dirty tricks of mortgage trade - (www.usatoday.com) – Yes, this is the company the Fed is assisting with the Bear Stearns acquisition.
No bids on 67 of 99 entries at real estate event - (www.heraldtribune.com) – Maybe the banks/owners should try lowering the price. What a novel approach, unless they have no ability to go lower.
That 6% Is Getting Harder to Earn - (www.nytimes.com) – Is anyone losing any sleep over realtors having to work a bit harder for their commission? This will help root out the ones that didn’t belong in the first place.
Housing slump comes to the Hamptons - (www.ft.com) – and is anyone losing sleep over these 3 Bear Stearns execs who are trying to sell their homes in the Hamptons?
More $$$ for Countrywide bigs - (latimesblogs.latimes.com)
59% of Los Angles Houses for Sale Are Foreclosures - (patrick.net)
McCain Delivers In Housing Crisis Speech - (www.cbsnews.com)
Effort to Stop Bailout Plans Is Uphill Battle - (dadtalk.typepad.com) – Mostly because consumers believe the bailout is helping them, when it is really a ruse to help banks and lenders.
BIS heralds demise of CDOs - (www.ft.com)


Other Stories:

The Chase “Cheats And Tricks” Memo - (www.ml-implode.com) - ``How about some perspective. How prevalent was the problem? In my position as an underwriter I had a pretty good view of thin...

Manhattan Market Slows as Wall Street Cuts Jobs - (www.bloomberg.com)
Senate deal breathes life into housing rescue bill - (www.ml-implode.com) - In the vote, Republicans had been expected to easily be able to block progress until Democrats agreed to back away from a techni...
Wachovia stops some California loans - (www.ml-implode.com)
West Palm Beach to open foreclosure help center - (www.ml-implode.com)
Bernanke Faces Grilling On Bear Rescue, Credit Crisis - (www.ml-implode.com)
Pay Electric or Mortgage? - (www.mothering.com)
In Treasury Plan, a Reluctant Eye Over Wall Street - (www.nytimes.com)

Paulson Plan Gets Blasted - (www.wsj.com)
Americans Delay Retirement As Housing, Stocks Swoon - (www.wsj.com)
Doubts Greet Treasury Plan Regulation - (www.nytimes.com)
U.S. Economy: ISM Index Unexpectedly Rose in March - (www.bloomberg.com)
Construction Spending in U.S. Fell 0.3% in February - (www.bloomberg.com)
Food Price Inflation Changes How We Shop - (www.chicagotribune.com)
Treasury Official Behind Finance Overhaul - (www.wsj.com)
Let the housing chips fall - (www.latimes.com)
It's time to rein in the Fed - (articles.moneycentral.msn.com)
German watchdog eyes $600 bln global bank losses - (biz.yahoo.com)
HUD chief resigns during housing crisis - (www.9news.com)

Blame Game: The 'Uptick' Rule Debate - (www.wsj.com)
Muni market crisis - (www.ft.com)
Bank ownership of foreclosed homes doubles - (www.chicagotribune.com)
U.S. Corporate Bond Sales Fall 32 Percent in the First Quarter - (www.bloomberg.com)
What's wrong with Wall St. and how to fix it - (money.cnn.com)
How those who were pushing for less regulation missed the boat - (money.cnn.com)
8 reasons no Wall Street reforms in '08 - (www.marketwatch.com)
Failure rate rockets for buy-out companies - (www.ft.com)
A Nervous Wall St. Seems Unsure What's Next - (www.nytimes.com)
Shrinking Prices, Rising Deliquencies - (online.wsj.com)
Many Houseowners Insist on Inflated Prices - (audio - npr.org)
Book: $1 Trillion in Writedowns in '08 - (www.nypost.com)
Fewer Class Action Suits Cite Accounting Issues - (www.cfo.com)
Reduced corn crop forecast plants fears - (www.latimes.com)
Hedge fund Pardus halts withdrawals - (www.chicagotribune.com)

Lehman Sells $4 Billion Shares as Fuld Tries to Calm Investors - (www.bloomberg.com)
UBS Says Ospel Resigns After $19 Billion Writedowns - (www.bloomberg.com)
Banks seen cutting 200,000 jobs - (money.cnn.com)
Big US carmakers report lower sales - (www.ft.com)
Deutsche Bank to Write Down Record 2.5 Billion Euros - (www.bloomberg.com)
Banks Face Most Severe Crisis in 30 Years, Morgan Stanley Says - (www.bloomberg.com)
Thornburg Mortgage raises $1.35 billion to avoid bankruptcy danger - (www.iht.com)
What's wrong with Wall St. and how to fix it - (www.fortune.com)
Lehman to Offer Preferred Stock - (www.thestreet.com)
Dell to Close Texas Plant, Weighs Shutting Finance Group - (www.wsj.com)
Could Citi Shake-Up Signal Asset Sales? - (www.thestreet.com)

China and Core Inflation - (www.wsj.com)
Struggle to keep food supplies at home - (www.ft.com)
Japanese business sentiment at 4-year low - (www.ft.com)
Radical action to fight credit crisis discussed - (www.ft.com)
High inflation in South Africa - (www.economist.com)
Poland shows the strain - (www.ft.com)

Looming dangers for the dollar - (www.ft.com)
Playing the Housing Blame Game - (www.nytimes.com)