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BAILOUT THOUGHTS (5 articles):

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1. Paulson Notes the Actions Taken and the Actions Needed in US Mortgage Markets - The following is a speech by Secretary Henry Paulson at the Office of Thrift Supervision National Housing Forum. - riskcenter.com free reg.  

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2. Subprime bailout plan has 3 groups:

a. the sliver of borrowers that can be expected to continue payments at the introductory rates, which will then be frozen.

b.2. Sunk into probable foreclosure will be the section of homeowners that are deemed “hopeless,”

c.. and those “not needing help” will just continue on their merry way.

Who will decide what is fair?   Alan Geik - seeking alpha  

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3. Subprime Risk Plan: A Great Step in the Right Direction - Accrued Interest

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4. Delaying the inevitable - themessthatgreenspanmade 

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5. Treasury’s Subprime Rate Plan is a Great Big Zero - … The real problem is too many homes chased by too few people able to afford them at current prices … My more radical solution of offering free U.S. citizenship to anyone who buys a house in the U.S. free and clear (for more than $250,000), is a non-starter …. seeking alpha  

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Money Market Funds, OFHEO, MBIA and AMBAC, 1987 Odds, Ben Stein, Land Prices Hit, Moody’s, Wells Writedown, New Century Rate Sheet, Bill Gross, Bill Poole, Marking Citi, MGIC Tighten

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Money Market Funds - more hurt to come - accrued interest  

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OFHEO - HOUSE PRICES WEAKEN FURTHER IN MOST RECENT QUARTER - First Quarterly Price Decline for U.S. since 1994 - press release and report links - OFHEO

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Pershing’s Ackman: MBIA and Ambac Could Be Belly-Up By Q2 2008 - seeking alpha

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Probability of Bank Default Hits 1987 Crash Levels - Author: Eric C. Banfield, FRM, CRP, PRM - riskcenter.com free reg.  

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Ben Stein — an Interesting Read, Indeed! - In Sunday’s New York Times, Ben Stein writes an article pointing out that Goldman Sachs has sold $ billions in C.M.O.’s (including during a period where current Treasury Secretary Hank Paulson led the firm). In his piece, Mr. Stein also mentions that while Goldman was selling C.M.O.’s – it was also shorting them through index sales. - vigilant investor

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Land prices get hit - Lennar sells land to Morgan Stanley venture at 40 cents on dollar with right to buy back - details in Wall St. Journal  

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Moody’s Reviewing Ratings on Over $100 Billion in SIV Debt - Bloomberg and Reuters 

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More on the Wells ‘Prime’ Write-down - … The average FICO credit score for all Wells Fargo home-equity loans is 750, well into prime territory. - The midpoint of all credit scores in America is 723. … Subprime starts in the mid-600s and goes down from there … - Pretty much says it all. This thing ain’t anywhere near over. - Herb Greenberg - MarketWatch.com  

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great graphics including a rate sheet - WSJ Report: Middle Class Borrowers Pushed Into Subprime Mortgages - by Tim Iacono - seeking alpha  

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Bill Gross: Beware our shadow banking system - We have a secret banking system built on derivatives and untouched by regulation, says Pimco’s Bill Gross. Here’s how to protect your pocketbook. - Fortune

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Bill Poole: The Fed “Put” Exists   - Infectious Greed  

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E*Trade Marked To Reality - What Happens If Citigroup Is? - … Financial analysts on Friday said E*Trade got anywhere from 11 cents to 27 cents on the dollar …. Citigroup investment bank analyst Prashant Bhatia said E*Trade actually received 11 cents on the dollar for its portfolio, if you factor in that the brokerage received $800 million in cash minus 85 million shares it issued. …   globaleconomicanalysis

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MGIC To Raise Prices And Tighten Safeguards - thanks Owen - MSN Money