Burdened by Mortgages, Lehman’s Options Narrow - Jenny Anderson - NY Times
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Housing Rebound Unlikely Before 2009, HUD Chief Says - Alison Vekshin - Bloomberg
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C.A.R. July 2008 Sales and Price Report - Home sales increased 43.4 percent in July in California compared with the same period a year ago, while the median price of an existing […]

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VIDEO: Take A Load Off Fannie - youtube
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has case details - Subprime Litigation: A Glimpse of the End Game? - Kevin LaCroix - The 2007 settlement of an Ontario securities class action may suggest the eventual direction of many of the lawsuits in the current subprime and credit crisis-related litigation wave. Even though the lawsuit […]

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Bernanke looks for new regulatory approach - Mark Felsanthal - U.S. Federal Reserve Chairman Ben Bernanke’s suggestion that financial supervision be revamped to take into account the health of the entire system is a logical response to recent market turmoil, but may be a difficult concept to execute.  - Reuters
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Kenneth Harney: Is it appraisal business […]

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Financial Innovation Amplifies Systemic Liquidity Shocks - A new Working Paper from the International Monetary Fund finds that increasing financial integration and innovation can make market and funding liquidity pressures readily turn into issues of insolvency. - Research Recap 
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Long but fascinating - Section 8 Vouchers? - American Murder Mystery - Hanna Rosin - Why […]

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Central Banks and Agencies - John Jansen -  I wrote a lengthy piece yesterday about the diminished bid for agency paper in the Central Bank Community. Brad Setser posed the pertinent question and wanted to know where the money that was not being spent in agencies was being invested. - Across the Curve
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HOW LOW BEFORE […]

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A Sad Forecast for American Home Holders - Once-huge mortgage lender sees bankruptcy payments of 5.9 cents for each unsecured dollar. - Stephen Taub - CFO.com 
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MBIA’s 2Q Dazzling Results: What Is ‘Adjusted Book Value,’ Anyway?  - A quick definition, mostly jargon-free  - Thomas Brown  - bankstocks.com
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Freddie Mac’s bond sale underscores severity of crisis - […]

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