When Should the Fed Crash the Party? – Peter Bernstein – NY Times 

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Wall Street Girds For Regulation In The Wake Of Crises – … Christopher Dodd , a Democrat from Connecticut , will protect mortgage servicing companies from lawsuits brought by mortgage-backed securities investors. …   … -  Money CNN

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House signs off on sweeping housing bill – Bush administration opposes FHA refi plan – Inman News 

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Citigroup may unveil $400 billion asset sales: sources – … “The only reason you’d sell off that many assets is you have a lot more losses coming than you originally thought,” said Jim Huguet, co-chief executive at fund manager Great Companies LLC,  … – Reuters

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A Really, Truly Terrible Investment – Liz Moyer -  Auction-rate securities are a mess. Those backed by education loans are even worse. Is there a way out? -  Forbes 

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Press Release: House Passes Comprehensive Housing Package – house.gov 

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Bankruptcies on the Rise – Tighter credit, rising commodity prices, and slipping sales aren’t slamming just Wall Street;now small businesses are getting hit – John Tozzi  – BusinessWeek

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Despite a Rebound in Originations, Servicing Losses Swamp PHH … – Housing Wire 

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FHA premiums to be based on risk – Pricing plan coincides with FHA expansion – Inman News 

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MGIC Turns the Screws on MI Underwriting -  MGIC Investment Corp. said late Thursday that it will pull back the reigns on its mortgage insurance underwriting standards for the second time this year… – housingwire 

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very interesting – Comparison of Ownership vs. Rental Costs in 100 U.S. Cities Demonstrates that Rental Options Should Be a Consideration in Housing Proposals – As prices continue to fall in bubble-inflated markets, homeowners will experience negative equity accruals – Hye Jin Rho, Danilo Pelletiere and Dean Baker – paper at CEPR.net
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Affluent baby boomers boost home sales in active retirement … – Bizjournals.com 

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In mortgage market, ‘walkaway’ homeowners may be urban myth – LA Times

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Seeking Foreclosure Riches: What Does it All Mean? – Jeff Miller – … Trump University”,” a class where Trump promises “If you’re not a millionaire by December 2008, you didn’t attend my foreclosure workshop.”   … – A Dash of Insight

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Storage Units: Losing a Home, Then Losing All Out of Storage – NY Times 

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Housing Bailout Plan In Jeopardy – The New York Times is reporting Housing Bailout Bill Seems to Be on Shaky Ground. – Michael Shedlock – globaleconomicanalysis

posted by Bill Coppedge