Housing Market May Be Stabilizing – Joseph Rosta – It could take a lot more government prodding and pushing, but there are signs that the housing market is nearly done collapsing and may now start treading recessionary waters. – US Banker

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1.  Barron’s on Mark-to-Market Accounting: Way Off Base  – The problem isn’t that banks own too many securities. Here are three reasons why. – by Zach Maxfield  – bankstocks.com

2.  Useless, Or Worse Than That  – Gary Townsend – The government’s recent efforts to fix the financial mess won’t do much good-  and could do a lot of harm  – has 6 observations – Bankstocks.com 

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Moody’s Slashes Mortgage Insurers -  By DIANA GOLOBAY -  Moody’s Investors Service announced on Friday sweeping downgrades among top U.S. mortgage insurers as delinquencies and foreclosures remain at historic high levels and the capital of these institutions is challenged. … mentions PMI Mortgage Insurance, Radian Group Inc., Mortgage Guaranty Insurance Corp., 2 more – housingwire 

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SHOW ME THE … NOTE:  Homeowners’ rallying cry: Produce the note – The Associated Press  Google Kathy Lovelace lost her job and was about to lose her house, too. But then she made a seemingly simple request of the bank: Show me the original mortgage paperwork.  And just like that, the foreclosure proceedings came to a standstill. – Google 

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Barclays eliminating 548 jobs in Charlotte area – Barclays PLC said Tuesday that it’s shuttering its Charlotte-based EquiFirst mortgage unit, citing “market conditions.” – Charlotte Observer

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BANK EXPERT BOVE’S BACK IN THE GAME – MARK DeCAMBRE – A dispute over how to handle a lawsuit has led prominent Wall Street bank analyst Richard Bove to leave his post at Ladenburg Thalmann and join Rochdale Securities. – NY Post

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Proprietary Insurance For Reverse Mortgages Coming Soon – Boasting that his will be “the first lender in the country with private insurance on proprietary reverse mortgage products,” Tom Walker, president/CEO of Members Trust Co., Tampa, a Credit Union Service Organization (CUSO), says “We are very close to getting private insurance” for the loans – Reverse Mortgage Daily

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has list – The Most Stimulated States – Joshua Zumbrun – Which states does the White House believe will be the biggest winners from the $787 billion package? – Forbes

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In this issue of The Institutional Risk Analyst, we look at the latest proposals for fixing the banking system and point out that we have yet to have that adult conversation about the bond holders of the big banks.  If we are going to protect the depositors, then the bond holders get the sword, right?  – Chris Whalen
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A Florida Court’s ‘Rocket Docket’ Blasts Through Foreclosure Cases – 2 Questions, 15 Seconds, 45 Days to Get Out; ‘What’s to Talk About?’ Says a Judge – MICHAEL CORKERY – Wall Street Journal 

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   and  

1.  Greenspan: Fix system before stimulus – By EAMON JAVERS – Greenspan uses uncharacteristically candid language to describe the dire plight of the American economy.  The famously inscrutable Alan Greenspan used some uncharacteristically candid language to describe the dire plight of the American economy Tuesday night -  The Politico
2.  Greenspan backs bank nationalisation -  By Krishna Guha and Edward Luce in Washington -  FT.com 

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     IRA ARTMAN SECTION – thanks Ira: 

Has the Time Come to Nationalize Struggling Banks? Yes, but Carefully  – … the very concept seems stunning: Nationalization of banks in Europe and the United States. But with many global banks still teetering on the brink of insolvency — even after rescue efforts that have included multi-billion dollar infusions of capital and other forms of assistance — a different view is emerging. … most recently, Alan Greenspan — now argue that temporary government takeovers of the most deeply troubled institutions may be the only remaining solution. – Knowledge@Wharton 
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Very Nice Summary with Charts – Danske Flash Comment – USA:  Obama’s housing plan  – DanskeBank