good reading - Thriftville and Squanderville Realities -  Our generation’s greatest investor and thinker Warren Buffett came up with these names in an article in Fortune magazine October of 2003. The names depict a scenario in which Warren Buffett foresaw the current crisis we are encountering. -  Capitalinvestor1836 Blog

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Is Mortgage Rate Behavior Back to Normal? -  The Fed decreased its target rate by another 75 basis points last week. Along with interest rate cuts, are the Federal Reserve’s other innovative programs having their intended effects? Initial results point to yes. -  CreditUnions.com

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Chart du Jour: Credit Cards by Country via Froeign Policy - Paul Kedrosky  -  Infectious Greed

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Bernanke’s quiet skipper makes waves - N.Y. Fed’s Geithner is steering Wall Street into uncharted waters - When the phone rings at 3 a.m. alerting the government to a financial emergency, the call doesn’t come in to 1600 Pennsylvania Avenue but to an apartment in Manhattan. - MarketWatch 

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subprime resets - How will it (the housing crisis) end? - good explanation has 7 key points - Fiat Economics Blog

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Wells Fargo (WFC) Indicates it Would Love to be Forced into a Fed Shotgun Marriage - Fund My Mutual Fund

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That’s What I’m Talking About - Banks allowed to lift MBS holdings - Dr. John Rutledge blog

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JPMorgan Chase lures Bear brokers - JPMorgan Chase is offering Bear Stearns’ best brokers annual bonuses of more than $500,000 in an effort to prevent an exodus of talent as a result of its planned takeover of the stricken investment bank. … - FT.com 

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Leaning Hard Into A Headwind - Dr. Scott Brown - Raymond James 

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The Lost Decade - good personal advice from David Merkel - The Aleph Blog 

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Markets Bet On Sweetened Deal for Countrywide - Liz Moyer - Forbes 

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Goldman sees $1.2 trillion global credit loss - Goldman Sachs forecasts global credit losses stemming from the current market turmoil will reach $1.2 trillion, with Wall Street accounting for nearly 40 percent of the losses.   - Reuters
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Bay Area home prices drop 13.2% - San Francisco Chronicle

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Freddie Mac delinquencies up; portfolio shrinks - Julie Haviv -  Reuters

posted by Bill Coppedge