VIDEO: Monetary Policy with Zero Interest Rates: Is the Fed Done? – The Fed Funds rate is near zero.  By this common gauge, the Fed doesn’t have any more room to ease.  Does that mean monetary policy is totally effective?  I think not.  Learn why in this video. – Bill Connerly’s Businomics

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This is awesome – drag mouse over the map – Today’s Front Pages > Wednesday, January 14, 2009: front pages from countries. 
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AARP Pushing For 625K HECM Loan Limit? – Reverse Mortgage Daily

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Congressmen like to complain that banks are hoarding capital. There’s just one problem: they’re not. Gary Townsend explains at bankstocks.com 

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Fed looking at how to help muni market: Kohn -  Reuters

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Banks need more rescue funds – President-elect Barack Obama, Federal Reserve Chairman Ben S. Bernanke, congressional Democratic leaders and industry insiders seem to have realized that the banks need more money. “More capital injections and guarantees may become necessary to ensure stability and the normalization of credit markets,” Bernanke said. Citigroup, which is looking to break itself into parts, is perhaps the most visible example that the banking system requires more help. -  The New York Times

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Markets warming up for bonds and commercial paper – Data provider Dealogic says global sales of corporate debt surged to $82 billion last week, the best figure since last May. In another sign of a possible thawing of the credit markets, companies are finding it easier to find buyers for commercial paper. -  BusinessWeek/The Associated Press

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The Fed On A High Wire – Thomas F. Cooley – Economics without a safety net. -  … This is the high-wire act. If these reserves end up as cash held by the public, it could generate serious inflation. Many market participants are expecting this to happen down the road. In order to forestall that, the Fed will have to liquidate some of these non-traditional assets and decreasing reserves. Removing reserves at the right rate–fast enough to forestall serious inflation, but not so fast as to thwart a recovery–is a very difficult balancing act. … – Forbes

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[Housing Study] PMI Predicts Lower Housing Prices Through 2011 – PMI ERET Report

• Nearly half of the nation’s 50 largest markets have an elevated or high probability of lower home prices in two years.
• The risk of lower home prices rose in 97% of markets in the U.S- highlighting the breadth of the economic and housing downturns. While California , Nevada ,
• Florida and Arizona consistently rank as the highest risk areas, increased risk is also appearing in the Industrial Midwest and East Coast.

Much more …

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   IRA ARTMAN SECTION – thanks Ira: 

READ THIS BC Now Available: RPX Year In Review for 2008- Radar Logic has released its review of the housing and residential property derivatives markets in 2008. The report is available on Radar Logic’s website … thoughtful look back particularly considering topic – prices and foreclosure sales, ‘motivated transactions’ etc. 
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How Citigroup Unraveled Under Geithner’s Watch – By Jeff Gerth, ProPublica – Obama’s pick for Treasury Secretary has some serious strikes against him — especially when it comes to regulation. – AlterNet
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FHFA Announces New Mortgage Data Requirements – James B. Lockhart, Director of the Federal Housing Finance Agency, announced today that, effective with mortgage applications taken on or after Jan. 1, 2010, Freddie Mac and Fannie Mae are required to obtain loan-level identifiers for the loan originator, loan origination company, field appraiser and supervisory appraiser.