3 interesting announcements: Tech Roundup: New Solution Prices Distressed Mortgages – By KELLY CURRAN – housingwire

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The January 2009 Senior Loan Officer Opinion Survey on Bank Lending Practices  – Released by the Board of Governors of the Federal Reserve System

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The “Aggregator” Bank: A Good Idea, Depending On … – the price the government pays for “bad” assets, of course.  – Gary Townsend  – bankstocks.com 

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Opinion:  A bad bank is a very bad idea – By Rolfe Winkler – NY Daily News – Rolfe has been a past contributor to MNC 

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1.  This Deficit Is Different–And Dangerous – John Tamny – If we don’t stop borrowing, we’re on our way to higher interest rates. – Forbes

2.  The New TARP – How Failing Banks Can Help Banking – Liz Moyer – The FDIC’s handling of the most recent bank failures provides hints at what the ultimate TARP2 will look like. – Forbes

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Option ARMs: Bigger Problems (and More Lawsuits) Ahead - by Kevin LaCroix – D&O Diary – also points to Reggie Middleton article on option arms.

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Federal Home Loan Bank’s rating under review – (Reuters) — Moody’s Investors Service on Monday said it may cut the Federal Home Loan Bank of Chicago’s subordinated debt rating on concern that capital shortfalls could jeopardize interest payments.  Losses on the bank’s portfolio of residential mortgage-backed securities and interest-rate hedging may erode the capital, triggering a suspension of interest payments, Moody’s said in a statement announcing the review of the bank’s “Aa2″ subordinated debt rating. – Crain’s Chicago Business 
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The Bank Bailout Is Broken – BusinessWeek 

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Ex-Goldman lobbyist now Geithner’s right-hand man – AP Yahoo 

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CNBC.com has now learned that the administration is considering three options for institutions: a) a bad bank, b) more capital injections into institutions and c) a so-called “ring fence” concept, in which the government uses a combination of guarantees and insurance to cover bad assets within an institution without technically removing them from the balance sheet. – CNBC

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    IRA ARTMAN SECTION – thanks Ira: 

Dilbert Comic that Ira Found 

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Wells Fargo under pressure after Wachovia deal – By Juan Lagorio – He was crowing over the deal as recently as last month, but Wells Fargo & Co (WFC.N) Chief Executive John Stumpf could yet live to regret the bank’s $12.7 billion takeover of troubled Wachovia Corp.  Stumpf said at an investor conference in December he “loved” the Wachovia deal, which was consummated after a hard-fought battle with Citigroup Inc – Reuters   – imagine what would have happened if Citi had bought Wachovia !! BC
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FTC Consent Decree Alleges Mortgage Lender Failed to Ensure the Protection of Consumer Information Provided to a Third Party,  – David A. Tallman – A recent Federal Trade Commission (FTC) action highlights the need for renewed focus, particularly by mortgage lenders, on the protection of borrowers personal financial information, including information made available to strategic partners. – K&L Gates

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Commentary: How to rescue the bank bailout – By Joseph E. Stiglitz – Editor’s note: Joseph E. Stiglitz, professor at Columbia University, was awarded the Nobel Memorial Prize in Economic Sciences in 2001 for his work on the economics of information. Stiglitz was chairman of the Council of Economic Advisers during the Clinton administration before joining the World Bank as chief economist. – Special to CNN 

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‘Bad Bank’ Just One Option Considered To Save – Albert Bozzo – The Obama administration and financial industry representatives Saturday discussed a range of measures to ease the credit crunch, including a so-called ‘bad bank’ component to buy toxic assets. – CNBC