U.S. Bank Acquires All the Deposits of Two Southern California Institutions -  Downey Savings & Loan Association, Newport Beach and PFF Bank & Trust, Pomona – FDIC.gov 

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Good Resource: Buckley Kolar Info Bytes -many relevant articles about regulation -

1.   Week of Nov. 7     2.   -   Main page

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seeing the future in 2006 – Kindleberger’s Last Bubble – The famed economist, Charles P. Kindleberger, author of over 30 books, including the great title “Manias, Panics, and Crashes: A History of Financial Crises”, appears to have spent his final days clipping out newspaper articles in order to corroborate his intuition of a mounting real estate bubble. -  paper-money.blogspot.com 

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Jason R. Marx Takes The Industry’s Pulse – Phil Hall – This week, MortgageOrb chats with Jason R. Marx, vice president and general manager, mortgages, at Wolters Kluwer Financial Services in Minneapolis, on what he is hearing from mortgage bankers on the current state of affairs. … I think we’re going to be in the tunnel for a while. We believe there is still another 18 to 24 months of work on the loss mitigation side, based on what we are hearing from our customers. … – more at Mortgage Orb

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If the home builders are nervous, what does that mean for the rest … Posted by: Prashant Gopal – BusinessWeek 

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Could Bank Rules End the Fair Value Debate? – It wouldn’t be the first time bank regulators broke from accounting rulemakers to find a solution to dwindling capital reserves. – Marie Leone and Tim Reason – CFO.com
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Downgrades Affect $296.7 Billion in US Corporate Bonds in Q3 – Cindy Stoller – The credit crisis and softening economy pushed up the par value of U.S. corporate bonds affected by downgrades to $296.7 billion in the third quarter, a level topping the worst quarters of the 2001 / 2002 downturn. – riskcenter.com 

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No Bottom in Sight for Housing-related Structured Finance – Structured financial products linked to homebuilding and real estate continued to suffer more downgrades than upgrades in the third quarter and the outlook remains dim, according to a Standard & Poor’s quarterly report on rated global structured securities. -  Research Recap

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FOMC sees year long recession, minutes show – Fed policymakers will take ‘whatever steps necessary’ – By Rex Nutting, MarketWatch 

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HSBC Mortgage to lay off 225 – Jonathan D. Epstein – …  as the lender shuts down wholesale and correspondent lending and shifts to direct lending to consumers instead of through brokers. … – Buffalo News

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    IRA ARTMAN SECTION – thanks Ira: 

Even uglier economic reports coming soon - Jim Haughey, RCD Chief Economist – Reed Construction Data 

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1.  Op-Ed Contributor – Let Detroit Go Bankrupt – By MITT ROMNEY – NY Times

2.  Editorial Observer – In Levittown, Old Myths Meet Hard Reality - By LAWRENCE DOWNES – … Zoom in now, though, and you wouldn’t recognize the place. After 60 years, the cookie-cutter Cape Cods have been remodeled beyond recognition, growing dormers, garages, bay windows and second floors. The neighborhood looks prosperous and perfect, except for the supply of empty homes and For Sale signs.  … – NY Times 

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How Our Gutless Media Helped Trigger the Credit Crisis – By Trudy Lieberman, Columbia Journalism Review. -  Government and greedy bankers aren’t the only ones to blame. – Alternet.org 

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Global Insight Perspective recession forecast/call  – IHS Global Insight Chief Economist Says Recession Will Be Deep, but Recovery Will Also Be Strong – Global Insight Perspectives