Friday November 23 Housing and Economic stories

Housing and Economic News:

Dow Theory Sell Signal Triggered With Wednesday's Decline - (www.bullnotbull.com/bull)

Liquidity Pump Runs Dry – (http://globaleconomicanalysis.blogspot.com/)
Huge Treasury Rally Underway: Where To From Here? – (http://globaleconomicanalysis.blogspot.com/)
How Much Will The Credit Crunch Cost? – (http://globaleconomicanalysis.blogspot.com/)
Slamming on the brakes in China – (http://globaleconomicanalysis.blogspot.com/)
Desperation at GMAC – (http://globaleconomicanalysis.blogspot.com/)
European Interbank Covered Bond Trading Halted – (http://globaleconomicanalysis.blogspot.com/)
Citibank SIVs Hit Norway Townships – (http://globaleconomicanalysis.blogspot.com/)
Bankruptcy Rumors at Countrywide – (http://globaleconomicanalysis.blogspot.com/)
SIV Debts A Disaster For Public School Funds – (http://globaleconomicanalysis.blogspot.com/)
Freezing Mortgage Rates Will Fail– (http://globaleconomicanalysis.blogspot.com/)


Wall St set to end week on bright note - (www.ft.com)
US investors returned from Thanksgiving in a more charitable mood as stock indices rebounded from Wednesday’s losses, investor attention turned to the retail sector on ‘Black Friday’ and E-Trade soared on sales talk - 15:33
Dollar tumbles to record low against euro - (www.ft.com)
Vedanta bid talk adds weight to FTSE rally - (www.ft.com)
Banks and drugs boost European stocks - (www.ft.com)
Asian stocks mixed as dollar sinks - (www.ft.com)
Getty
Shoppers wait outside Toys R Us at Times Square in New York before store opening. 'Black Friday' - the day after Thanksgiving - is traditionally the busiest day of the year for US retailers

Goldman aims to raise $6bn for hedge fund - (www.ft.com)
Bank looks to rebuild battered reputation - 22:00
Goldman takes 10% stake in CMC

Temasek to lower investment profile
Will avoid investing in ‘iconic’ foreign companies - 09:56
Investors cool to US multinationals - (www.ft.com)
Growing pessimism over export-led recovery - 22:00
Dollar tumbles to record low against euro - (www.ft.com)
ECB expresses concern over euro’s strength - 11:52
China voices alarm at dollar weakness - (www.ft.com)
Three strikes and they lose web access - 22:02
China joins FBI in piracy operation - (www.ft.com)
Eurozone growth hit by services slowdown - (www.ft.com)
Trichet warns banks face ‘material test’ - 11:46
Europe’s property sector hit hardest - (www.ft.com)


E-Trade Financial Holding Talks With Possible Buyers
E-Trade Financial, the beleaguered online trader, is in talks to sell itself, according to people familiar with the situation. Bankers say that while there is plenty of interest, it is far from clear whether anything will get done.

Shoppers Jam Stores, Giving Cheer to Retailers
Retail Execs Upbeat as Holiday Shopping Kicks Off
Three U.S. Banks to Ask Others for Superfund Help
Greenspan: Housing Prices Haven't Bottomed Yet
H&R Block Gets $350 Million Funding for Subprime Unit
Oil Rises Above $97 as Dollar, OPEC Supplies Weigh
Dollar Recovers Slightly vs. Euro, Yen in Thin Volume
For the Birds: Working the Day After Thanksgiving
Slideshow: The Hottest Electronics This Holiday Season



From http://www.prudentbear.com

Gold Rises in London and New York as Dollar Declines to Record - Bloomberg (11/23/2007 08:46 AM)
U.S. Stocks Rise; Wal-Mart, General Electric, Citigroup Gain - Bloomberg (11/23/2007 09:56 AM)
Insurers Shift Cost Burdens to Homeowners - NY Times (11/23/2007 05:21 AM)
Subprime mess may last into 2009 - Chicago Tribune (11/23/2007 05:30 AM)

FGIC May Get Capital After Natixis Rescues Bond Unit - Bloomberg (11/23/2007 05:12 AM)
In Reversal, Safe Is Risky, Risky Is Safe - NY Times (11/23/2007 05:23 AM)
Who’s Really Safe in the Mortgage Minefield? - NY Times (11/23/2007 08:35 AM)
Trading in derivatives slows to a trickle - FT (11/22/2007 09:21 PM)
Investors struggle to value complex credit assets - Reuters (11/23/2007 05:45 AM)
Tenants Pay as Landlords Default - WSJ ($) (11/23/2007 05:47 AM)
Buyout firms are selling -- a new image - LA Times (11/23/2007 05:28 AM)
Cracks appear all over Wall Street; bears may be prowling - USA Today (11/23/2007 05:46 AM)
Adams Square Funding I Is Forced to Liquidate - WSJ ($) (11/23/2007 05:51 AM)
Bearish Bets on NYSE Jump 3.8% - WSJ ($) (11/23/2007 05:52 AM)

Freddie Mac Risks Larger Declines Than Forecast, Moody's Says - Bloomberg (11/23/2007 07:25 AM)
Goldman aims to raise $6bn for hedge fund - FT (11/22/2007 08:57 PM)
Why Freddie's Loss Didn't Clear the Air - WSJ ($) (11/23/2007 05:49 AM)
Why Whole Foods Investors May Want to Shop Around - WSJ ($) (11/23/2007 05:50 AM)
Investors cool to US multinationals - FT (11/22/2007 09:13 PM)
Low dollar ‘threatens the life’ of Airbus - FT (11/22/2007 09:17 PM)
Loans R Us - Forbes (11/23/2007 05:50 AM)

U.K. Third Quarter Economic Growth Unexpectedly Slows - Bloomberg (11/23/2007 05:11 AM)
European Services Growth Slows on Higher Credit Costs - Bloomberg (11/23/2007 05:11 AM)
Eurozone split as bond spreads hit 6-year high - UK Telegraph (11/23/2007 06:07 AM)
Report: Japan Banks Hurt by Risky Loans - Forbes (11/23/2007 06:01 AM)



From http://patrick.net/housing/crash.html

House Prices Decline in 17 US States (efinancedirectory.com)
CA had biggest US house-price drops (lansner.freedomblogging.com)
Prices down 11% for San Francisco Area (housingtracker.net)
Bay Area real estate symposium forecasts more gloom (sfgate.com)
CA sees record $5 billion in foreclosures (centralvalleybusinesstimes.com)
No Slowdown in Foreclosure Filings (promo.realestate.yahoo.com)
Choosing Foreclosure (newsweek.com)
ResCap Bank swaps imply 72 percent default risk (reuters.com)
Should banks be protected from their mistakes? (money.cnn.com)
Freddie Mac loses $2B, seeks new capital (news.yahoo.com)
Shadow Mortgage Bailout Already in Progress (efinancedirectory.com)
Builders trim outlook for recovery (money.cnn.com)
Mr. Yun, Listen to Mr. Stumpf (seekingalpha.com)
Appraisers say pressure is nothing new (floridarealtors.org)
Beware the Selling Machines (jenman.com.au)
The US economy is melting down (marketwatch.com)
The Federal Home Loan Banks to the Rescue! (mises.org)
Real Estate Listings Sites (patrick.net)
Angst Filled Nook (bp2.blogger.com)

Thursday November 22 Housing and Economic stories

It isThanksgiving day so I will keep this site short :-)

I think there are a few very important stories that came off the presses on Wednesday and Thursday so I will present these below:

Europe Suspends Mortgage Bond Trading Between Banks (www.bloomberg.com) - as my brother pointed out, they are basically trying to prevent level 2 pricing of the assets from getting out.
Credit "heart attack" engulfs China and Korea (www.telegraph.co.uk)
Red lights flash on US economy (www.theaustralian.news.com.au)
Banks bail out bond insurer CIFG - FT (11/22/2007 05:46 AM)
More Japan investors are 'quitting America' - IHT (11/22/2007 03:20 PM)


Thanks to Ron Kirby for the following quotes from Ron Paul: I direct your attention to none other than rep. Ron Paul (R), currently running for the nomination to be the Republican Party’s candidate for President of the United States of America (from a speech delivered in the House of Representatives on July 9, 2002):

• “It is now commonplace and politically correct to blame what is referred to as the excesses of capitalism for the economic problems we face, and especially for the Wall Street fraud that dominates the business news. Politicians are having a field day with demagoguing the issue while, of course, failing to address the fraud and deceit found in the budgetary shenanigans of the federal government – for which they are directly responsible. Instead, it gives the Keynesian crowd that run the show a chance to attack free markets and ignore the issue of sound money.
  
  “Capitalism should not be condemned, since we haven’t had capitalism. A system of capitalism presumes sound money, not fiat money manipulated by a central bank. Capitalism cherishes voluntary contracts and interest rates that are determined by savings, not credit creation by a central bank. It’s not capitalism when the system is plagued with incomprehensible rules regarding mergers, acquisitions, and stock sales, along with wage controls, price controls, protectionism, corporate subsidies, international management of trade, complex and punishing corporate taxes, privileged government contracts to the military-industrial complex, and a foreign policy controlled by corporate interests and overseas investments. Add to this centralized federal mismanagement of farming, education, medicine, insurance, banking and welfare. This is not capitalism!”

Wednesday November 21 Housing and Economic stories

Here are some interesting stories about state and municipalities starting to have some issues. Also love the Greenspan story. I think he may be starting to believe his own crap.

I have a feeling we may have a short term bounce here for a week or two as the news was so bad today and Fannie/Freddie had huge down days. The market bounced late in the day and maybe due to resistance levels and overdone news???

California Ratings Outlook Cut on $48.2 Bln of Bonds - Bloomberg (11/20/2007 06:48 PM)
King County's bond rating may drop – Seattle PI
Florida Investment pool lost $2.2 billion in subprime crisis Local News ...
Greenspan: Dollar's Decline Has No "Real" Impact - (www.bullnotbull.com/bull)


Best sources of housing and financial news stories (with no spin):
· http://patrick.net/housing/crash.html (Patrick.net US Housing Crash Continues)
· http://www.bullnotbull.com/bull/
· http://www.prudentbear.com/
· http://www.safehaven.com/
· http://www.jasmts.com/readingRoom.php (Jim Shepherd Investment Strategist)
· http://globaleconomicanalysis.blogspot.com/ (Mish’s Global Economic Trend Analysis)


Housing and Economic News:

Broken Deals Aplenty – (http://globaleconomicanalysis.blogspot.com/)
Fannie & Freddie Clobbered Over Need to Raise Capital – (http://globaleconomicanalysis.blogspot.com/)
Freezing Mortgage Rates Will Fail – (http://globaleconomicanalysis.blogspot.com/)


Fed cool on long-term growth forecast - (www.ft.com)
The Federal Reserve revealed it no longer believed the US economy could grow much more than 2.5% a year in the long run without generating rising inflation, a lower rate than many global investors thought was sustainable - 02:16
Editorial comment: Squeeze continues - (www.ft.com)
Martin Wolf: Who will pick up the thread after America’s great unwinding?
Squaring the circle over Fed’s stance on cuts
Central banks weigh up dollar problemGetty
Ben Bernanke, chairman of the US Federal Reserve, which revealed it no longer believes the US economy can grow much more than 2.5 per cent in a year without generating rising inflation
Superfund lines up BlackRock - (www.ft.com)
Appointment seen as vote of confidence in plan - 00:33
Cheyne Finance deal in doubt - (www.ft.com)
Home lender shares slump on Freddie Mac loss - (www.ft.com)
Mortgage company posts $2bn loss - 23:36
Editorial comment: Squeeze continues - (www.ft.com)
KKR names Sorkin as first general counsel - (www.ft.com)
Move seen as step towards New York listing - 04:33
KKR hoping to defy turmoil with IPO - (www.ft.com)


Fed Sees Slower Growth But Wary of Cutting Rates - (www.cnbc.com)
The Federal Reserve is expecting slower growth and less inflation next year. But minutes from the Fed's October meeting show policymarkers were reluctant to cut interest rates further.
Fed, Markets Still at Odds
Oil Spikes to Record Above $99 on Dollar, US Chill - (www.cnbc.com)
Freddie Mac Stuns Investors With Bigger Loss - (www.cnbc.com)
Exclusive: Treasury May Discuss National Sales Tax - (www.cnbc.com)
Chrysler $4 Billion Loan Sale Postponed: WSJ - (www.cnbc.com)
Countrywide Says It Has Ample Liquidity, Capital - (www.cnbc.com)
Online Shoppers Won't Miss Deals, Just Crowds - (www.cnbc.com)
Fast Money: Brewing Stocks Add Hop To Portfolio - (www.cnbc.com)
Housing Outlook Still Gloomy Despite New Building - (www.cnbc.com)
Fill'er Up? For Some Big Cars, It Now Costs $100 - (www.cnbc.com)
Credit Rating Concerns - (www.cnbc.com)

Counterpoint: The Creeping Fascism of Global Warming Hysteria - (www.bullnotbull.com/bull)
No Evidence, No Charges, But a US Military Prosecution.First they came for the terrorists, but I did not speak up because I was not a terrorist. Then they came for the enemy combatants, but I did not speak up because I was not an enemy combatant. Then they came for the bloggers, but I did not speak up because I was not a blogger. Then they came for me, and there was no one left to speak up.
OPEC Pushes for Non-dollar Currency - (www.bullnotbull.com/bull)
Dollar Falls to Record Low - (www.bullnotbull.com/bull)
China Voices Alarm at Dollar Weakness - (www.bullnotbull.com/bull)
Shiller Warns of Imminent Global Crash - (www.b - (www.bullnotbull.com/bull)ullnotbull.com/bull)
Pat Buchanan: The Crash of 2008? - (www.bullnotbull.com/bull)
Investors Begin to Show a Darker Mood - (www.bullnotbull.com/bull)
Alarm at Rising US Car Loan Defaults - (www.bullnotbull.com/bull)
From $136,000 per Year to Foreclosure - (www.bullnotbull.com/bull)
Freddie Mac Posts Loss, May Cut Dividend - (www.bullnotbull.com/bull)
New Home Construction Rises - (www.bullnotbull.com/bull)


From http://www.prudentbear.com

Fed Pares Growth Forecast, Calls October Cut `Close' - Bloomberg (11/20/2007 02:00 PM)
U.S. Economy: Building Permits Slump to 14-Year Low - Bloomberg (11/20/2007 10:16 AM)
Who will pick up the thread after the great unwinding? - FT , Wolf, (11/20/2007 08:04 PM)
Goldman paints bleak picture for housing, financials - Reuters (11/20/2007 05:15 AM)
Wall Street money machine breaks down - CNN/Money (11/19/2007 09:11 AM)
The coming consumer crunch - Business Week (11/20/2007 05:23 AM)
U.S. Housing Starts Unexpectedly Climb in October - Bloomberg (11/20/2007 08:09 AM)
The dollar's drop confronts winemakers - Houston Chronicle (11/20/2007 08:14 AM)

Citigroup, Bank Credit Swaps Rise on Subprime Concern - Bloomberg (11/20/2007 04:57 AM)
Analysts fear auto loans next problem - Chicago Tribune (11/20/2007 05:12 AM)
Fallout From Credit Crunch Creates Another One - Bloomberg (11/20/2007 05:20 AM)
Libor soars as credit crunch returns - UK Telegraph (11/20/2007 05:32 AM)
Alarm at rising US car loan defaults - FT (11/20/2007 05:52 AM)
Famous Goldman fund may have huge losses - N.Y. Post (11/20/2007 08:18 AM)
Volatility Lifts Hedging Costs and Dims Carry Trade - Bloomberg (11/20/2007 02:46 PM)
California Ratings Outlook Cut on $48.2 Bln of Bonds - Bloomberg (11/20/2007 06:48 PM)
A Chain Reaction in Shaky Debt? - Business Week (11/20/2007 06:57 PM)
One hedge fund in 10 to go bust, says Man - FT (11/20/2007 08:10 PM)
Economy Conspires to Dog Cerberus - WSJ ($) (11/20/2007 05:18 AM)
Selective reasoning - FT (11/20/2007 08:21 PM)

Freddie Has 3rd-Quarter Loss, Seeks to Raise Capital - Bloomberg (11/20/2007 08:21 AM)
Freddie, Fannie seek a few billion: Eavis - Fortune (11/20/2007 04:19 PM)
Builder index at record low - LA Times (11/20/2007 05:10 AM)
GMAC woes reportedly end Northern Rock pursuit - Market Watch from Dow Jones (11/20/2007 05:12 AM)
Fannie Mayhem - WSJ ($) (11/20/2007 05:18 AM)
Ambac Investors Sweat A Little More - Forbes (11/20/2007 05:51 AM)
Cerberus Sued Over Turning Tail On Deal - N.Y. Post (11/20/2007 08:16 AM)
Loss lies with Ferguson unit - FT (11/20/2007 08:44 AM)
Freddie Mac’s $4.8bn loss deals fresh blow to US housing market - UK Times (11/20/2007 06:44 PM)
Friday is portent of sales season -- or not - LA Times (11/20/2007 05:09 AM)
Price Cuts Put Builders in a Bind - WSJ ($) (11/20/2007 05:25 AM)
Hedge funds can't fix the airlines - TheStreet.com (11/20/2007 08:24 AM)

Northern Rock Declines on Doubts Over Bank's Value - Bloomberg (11/20/2007 04:59 AM)
Credit jitters send UK bank shares tumbling - UK Times (11/20/2007 05:49 AM)
Paragon Shares Plunge After Lender Plans Rights Offer - Bloomberg (11/20/2007 06:03 AM)
Central banks weigh up dollar problem - FT (11/20/2007 08:05 PM)
Debate grows in Gulf states over revaluation - FT (11/20/2007 08:27 PM)
China takes aim at volume, not price, of money - Reuters (11/20/2007 05:17 AM)
Denial Makes the World Go Round - NY Times (11/20/2007 05:51 AM)



From http://patrick.net/housing/crash.html
Housing Market's Stench Means Cut Price to Sell (bloomberg.com)
The Economy's $2 Trillion Worry (businessweek.com)
U.S. facing $2 trillion lending shock (msnbc.msn.com)
Who's to blame for the mortgage mess? (articles.moneycentral.msn.com)
San Mateo House Sellers in Trouble (baglady.dreamhosters.com)
O.C. distressed houses for sale up 8.7% in 2 weeks (mortgage.freedomblogging.com)
Freddie Mac's subprime losses may hit $5 billion (biz.yahoo.com)
Freddie Mac chart (charts3.barchart.com)
Wall Street Plans $38 Billion of Bonuses as Shareholders Lose (bloomberg.com)
Deutsche Bank's View on the Housing Crisis (greatdepression2006.blogspot.com)
Public School Funds Hit by SIV Debts (bloomberg.com)
Six more hard years tipped for subprime fallout (thestandard.com.hk)
Jim Rogers Urges People to Sell U.S. Dollar Holdings (bloomberg.com)
OPEC Interested in Non-Dollar Currency (money.aol.com)
Chicago lenders' business loans going bad (chicagobusiness.com)
Surviving the Housing Slump (newsweek.com)
How Suburbs De-gentrify into Ghettos (Charles Hugh Smith)
Fitzgerald Wrong: Rich Aren't Different (bloomberg.com)
House builder sentiment stuck at record low (usatoday.com)

Tuesday November 20 Housing and Economic stories

One of the better stories I read today was the Greenspan story below. It is really ashame that Greenspan and Bernanke keep saying their policies are not hurting Americans and that the dollar decline is not hurting American's unless they travel outside the country. Their policies are causing gas prices to go up to $100/barrell and many other commodity prices are at or near all time highs. The high oil prices are really a tax or are affecting all American citizens and many outside the US as well. In addition, by lowering interest rates to bail-out Wall Street, they are penalizing older Americans who save money. We all know people who have thousands in the bank and get a whopping $2 in interest each month. Thanks Bubbles Greenspan and Helicoptor Pilot Bernanke.

Greenspan: Dollar's Decline Has No "Real" Impact - (www.bullnotbull.com/bull)

By the way, I went into Fidelity today to ask about their insurance on brokerage accounts/investment accounts. I believe these guarantors (insurance companies for bonds, mortgages) may include the one that provides extra insurance for Fidelity…. Oh well

Goldman paints bleak picture for housing, financials - one hour ago
Goldman lists financial guarantors MBIA Inc (MBI.N), Ambac Financial Group Inc, Security Capital Assurance Ltd (SCA.N) and Assured Guaranty Ltd (AGO.N) as the desperate. It lists Citigroup Inc, Washington Mutual Inc (WM.N), First Horizon National Corp (FHN.N) and National City Corp (NCC.N) in the "needy" column.


Best sources of housing and financial news stories (with no spin):
· http://patrick.net/housing/crash.html (Patrick.net US Housing Crash Continues)
· http://www.bullnotbull.com/bull/
· http://www.prudentbear.com/
· http://www.safehaven.com/
· http://www.jasmts.com/readingRoom.php (Jim Shepherd Investment Strategist)
· http://globaleconomicanalysis.blogspot.com/ (Mish’s Global Economic Trend Analysis)


Housing and Economic News:

Credit Woes at GM, Cerberus, and Residential Capital – (http://globaleconomicanalysis.blogspot.com/)
Point of No Return – (http://globaleconomicanalysis.blogspot.com/)

Shares fall globally on new fears for banks - (www.ft.com)
Fears that banks could still be feeling the impact of the credit squeeze by Christmas next year drove down shares globally - 23:39
Fed likely to give investors a surprise - (www.ft.com)
Recovery in US corporate loans stalls - (www.ft.com)
Gulf Arab funds eye US assets - (www.ft.com)
Debate grows in Gulf states over revaluation - (www.ft.com)

Amazon chief executive Jeff Bezos introduces the Kindle, a $400 hand-held digital reader that the company hopes will popularise the downloading of books in the way that Apple has driven the growth of digital music - (www.ft.com)
Amazon launches digital reader
China voices alarm at dollar weakness - (www.ft.com)
Concern over value $1,430bn of reserves - 02:19
Emerging markets weathering the storm
Poland demands US air defence system - (www.ft.com)
Vow to refocus foreign policy - 01:24
Ask the expert: Where is Russia heading?
Swiss Re falls victim to subprime crisis - (www.ft.com)
Ttwo complex credit default swaps lose $1bn - 22:39
Lex: European reinsurers


· Volatile Session Sees Seoul Fall, Japan Swings Black - (www.cnbc.com)
Trading proved volatile in the afternoon Asia session Tuesday with markets see-sawing and in out of the black. Australia and South Korea ended lower, but a late turnaround pushed Japanese stocks out of the red with the Nikkei closing 1.1 percent higher.
Yen Holds Gains on Deepening Credit Concerns - (www.cnbc.com)
USDA Reverses Itself on Tyson Antibiotic Label: WSJ - (www.cnbc.com)
Markets, Fed Still at Odds Over Outlook for Economy - (www.cnbc.com)
Stores Cut Holiday Prices, But Will Consumers Bite? - (www.cnbc.com)
Citigroup Gets 'Sell' Rating, May Face $15 Billion Hit - (www.cnbc.com)
Hewlett-Packard Profit Up 21%, Edging Forecasts - (www.cnbc.com)
Medtronic Profit Down 2% But Tops Estimates - (www.cnbc.com)
US Homebuilder Sentiment Remains at Record Low - (www.cnbc.com)
Fed Official Says Housing Market to Weaken Further - (www.cnbc.com)


Raid on Ron Paul Dollar Maker - (www.bullnotbull.com/bull)
China Freezes Lending... - (www.bullnotbull.com/bull)
Business Week: Economy on the Edge - (www.bullnotbull.com/bull)
India Tourists Sites Now Refuse Dollars! - (www.bullnotbull.com/bull)
As Owners Feel Mortgage Pain, So Do Renters - (www.bullnotbull.com/bull)
Bond Market to Bernanke: More Rate Cuts! - (www.bullnotbull.com/bull)
Goldman Rakes in the Cash on Credit Crisis - (www.bullnotbull.com/bull)
Perfect Storm for Gold as Mines Left Empty - (www.bullnotbull.com/bull)
Greenspan: Dollar's Decline Has No "Real" Impact - (www.bullnotbull.com/bull)


From http://www.prudentbear.com

Wall Street money machine breaks down - CNN/Money (11/19/2007 09:11 AM)
AMT could snag millions this year - Houston Chronicle (11/19/2007 08:44 AM)
The Economy's $2 Trillion Worry - Business Week (11/19/2007 06:28 AM)
Credit Red Flags Unfurling - TheStreet.com (11/19/2007 08:56 AM)
Fed likely to give investors a surprise - FT (11/19/2007 08:47 PM)
More Economists See U.S. Recession Ahead, Business Group Says - Bloomberg (11/19/2007 05:10 AM)
Crime scene: foreclosure - CNN/Money (11/19/2007 07:29 PM)

Commercial Property Now Under Pressure - WSJ ($) (11/19/2007 05:10 AM)
Swiss Re Has $1.07 Billion Credit-Default Swaps Loss - Bloomberg (11/19/2007 05:12 AM)
Radioactive Paper - Forbes (11/19/2007 05:32 AM)
Citigroup Downgraded to `Sell' at Goldman Sachs - Bloomberg (11/19/2007 06:26 AM)
By inviting in a Chinese bank, America hopes for reciprocity - Economist (11/19/2007 08:53 AM)
Money market woes and other concerns - TheStreet.com , Kass, (11/19/2007 09:03 AM)
Tech party now over - CNN/Money (11/19/2007 09:07 AM)
Crazy Little Thing Called Risk - NY Times , Peter Bernstein, (11/19/2007 03:30 PM)
Recovery in US corporate loans stalls - FT (11/19/2007 08:56 PM)
Hedge Funds Bounce Back - In a Big Way - WSJ ($) (11/19/2007 05:11 AM)
Survey: Gas Up 13 Cents in 2 Weeks - AP (11/19/2007 06:27 AM)

Lowe's 3Q Profit Falls, Cuts Outlook - AP (11/19/2007 08:27 AM)
Citigroup Downgraded to `Sell' at Goldman Sachs - Bloomberg (11/19/2007 11:25 AM)
Financials, Once a Balm, Now Hamper the Market - NY Times (11/19/2007 05:14 AM)
Impac Plans to `Significantly' Increase Loan-Loss Provisions - Bloomberg (11/19/2007 06:34 AM)
Fannie And Freddie Tumble - Forbes (11/19/2007 07:27 PM)
Alarm at rising US car loan defaults - FT (11/19/2007 08:53 PM)
Swiss Re hit by $1 bln credit market insurance loss - Boston Globe (11/19/2007 04:57 AM)
Wall Street Plans $38 Billion of Bonuses as Shareholders Lose - Bloomberg (11/19/2007 05:11 AM)

Northern Rock Won't Get Extended Aid as Bids Received - Bloomberg (11/19/2007 05:39 AM)
China voices alarm at dollar weakness - FT (11/19/2007 08:46 PM)
Wen Says `Massive' Foreign Reserves Put China Under Pressure - Bloomberg (11/19/2007 05:19 AM)
Gulf Arab funds eye US assets - FT (11/19/2007 08:50 PM)
Emerging market boom continues - Economist (11/19/2007 08:48 AM)
Crusade under way over flood insurance - Houston Chronicle (11/19/2007 08:45 AM)


From http://patrick.net/housing/crash.html
F Bay Area new house prices down 20% in two years (sfgate.com)
Fairfield, CA housing prices plunge 23% in one year (sfgate.com)
Dwindling mortgage options leaves Bay Area sales mired in misery (sfgate.com)
LA sales mired in jumbo loan slowdown (ocregister.com)
CA Inland Empire Houses for less than $200K (housing-kaboom.blogspot.com)
Forty to fifty cents on the dollar: the new reality (sptimes.com)
Mothballed developments delight squatters and meth dealers (patrick.net)
Developer-lender combos helped build a bust (realestate.msn.com)
Subprime mess is a crime story (canada.com)
Banks can't foreclose because they don't own the loans anymore (nytimes.com)
No shelter from the housing storm (articles.moneycentral.msn.com)
America's economy: Getting worried downtown (economist.com)
Goldman Sees Subprime Cutting $2 Trillion in Lending (bloomberg.com)
Could This Credit Crunch Have Been Avoided? (minyanville.com)
NAR Issues More "Now is a Great Time to Buy" Propaganda (efinancedirectory.com)
Unlocking the Riches of Oz (lvrg.org.au)
and value tax discourages speculative bubbles (en.wikipedia.org)
Dollars no good for the Taj Mahal (news.bbc.co.uk)
FBI attacks alternative to falling dollar (spokesmanreview.com)
In Paul They Trust (The Feds May Differ) (washingtonpost.com)