================

Don’t Underestimate the U.S. Consumer? The Global Economy Is Strong? - by Paul Kasriel - Northern Trust - safehaven

————

DAVID WILSON - Countrywide’s Fate, Cerberus’s Hell, Iceland’s Deals - Bloomberg

————

Credit markets and the crisis of confidence in global finance - From The Economist print edition

————

CO: Price slash - Rocky Mountain News

————

Jitters seep into money funds - Nervous investors rush into Treasury bills, pushing interest rates dramatically lower, as they look to park money in a security with a guarantee of payback. - LA Times

————

very interesting - Timing of “Fairly Priced” Homes Varies by Market - thanks Ira Artman - realestateconsulting

————

Independent Lenders: Next Victims of the Credit Crunch? - If Thornburg and/or Countrywide go under due to the tough credit environment, then it’s safe to say that the remaining subprime lenders will undoubtedly go under as well, and that any surviving subprime lenders will be the subprime divisions of the major banks, and/or former independent lenders that were purchased by same. - Analytical Wealth

————

ResCap’s Credit Rating Downgraded to Junk; IndyMac on Watch - housingwire

————

Blame central banks for sinking share markets - What a bizarre monetary spectacle. With one hand central banks raise interest rates to curb credit expansion while using the other hand to inject liquidity (credit) into the economy to prevent a recession that they think is caused by rising interest rates. Talk about economic schizophrenia - brookesnews

————

California Foreclosures Up 24.6%; 95% of Auctions End ‘No Bid’ - Vigilant Investor

————

When Virtual Crises Turn Real - A run on the bank at the increasingly popular Second Life shows how an online “universe” needs regulation, too. But how to regulate it? - CFO.com

————

Senator Chuck Schumer Wants To Raise Portfolio Limits At Fannie and Freddie - seeking alpha

————

Counterintuitive News From Mortgage Bankers Association - … I think it means that when large lenders are getting an unusually large share of the mortgage business, it skews their index?” … Square Feet Blog

————

Genworth Says Subprime Exposure Limited - … Combined, these securities make up just 5% of Genworth’s $72.6b in invested assets.” … AP Forbes

————

Two-Year Treasury Yield Near 18-Month Low on Subprime Concern - NY Sun

————

Fannie Mae Predicts Price Decline Will Accelerate in ‘08 - Washington Post