Housing
FACT SHEET: President Obama’s Plan to Help Responsible Homeowners and Heal the Housing Market – BARET
A Bottom in the Housing Market in 2012 Is Not What You Might Think - Tim Iacono
In Atlanta, Housing Woes Reflect Nation’s Pain – NY Times
Yet More Mortgage Settlement Lies: Release Looks Broad, Not Narrow; Other States Screwed to Bribe California to Join - Naked Capitalism
Freddie Mac and the inverse floaters, cont. – Felix Salmon
Foreclosures Draw Private Equity as U.S. Sells Homes – Bloomberg
Homeownership rates fall to 66% as downturn nears a bottom – USA Today
(bottom?)
Economy & Europe
French Consumption Drops Most Since 1997 - Mish
Here’s The Scariest Part Of The CBO’s Dismal Outlook – Bruce Krasting
United States of Europe? What it Will Take to Save the Continent from Economic Collapse – Edward Harrison
Prepare For A Giant New Wave Of US Bank Failures – TBI
Invictus, which stress tested all FDIC-insured banks, says 758 lenders could collapse in the next three years, forecasting a new wave of borrower defaults in the absence of a strong economic up-tick.
Working Poor: Almost Half Of U.S. Households Live One Crisis From The Bread Line – HuffPo
Guest post from OWS: Too Big to Fail is Too Big to Ignore – FT
As a presidential candidate, Jon Huntsman proposed a six-point plan to address the critical and important problem of banks that are too big to fail. Now that he has left the race, there is no presidential candidate with a plan or even with an obvious interest in addressing this vital question. The Alternative Banking Working Group of Occupy Wall Street believes it is extremely problematic that this issue is being ignored, and urges every presidential candidate, including Barack Obama, to propose their too big-to-fail plans for review and for debate. In the weeks and months to come, presidential candidates on both sides of the aisle should make explicit plans to set up appropriate firebreaks in the financial system to protect taxpayers.
I Don’t See How This Can Continue – Tim Duy
California & Bay Area
Hercules defaults on redevelopment bond payment – Contra Costa Times
How Recovery-Stimulus money was spent. Contra Costa County was robbed! – Halfway to Concord
Admit … the song is going through your head right now, isn’t it? – Oakland Local
California Faces Cash Shortfall by March on Low Receipts, Controller Says – Bloomberg
State receipts were $2.6 billion lower than forecast through Dec. 31, while expenditures were an equal amount higher, Chiang said. In a previous report, Chiang said the collections shortfall for the fiscal year that began in July was led by corporate and personal-income taxes.
Misc.
Be Better at Twitter: The Definitive, Data-Driven Guide – The Atlantic
HAPPY 55TH ANNIVERSARY TO RON AND CAROL PAUL – Ron Paul
Pfizer recalls 1M birth control packs after mixup – AP
(get ready for a baby-boom in Q4!)
February 1, 2012
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