The Herald Tribune - "Dollar gains as a stronger Wall Street eases worries over US economy" (11-30-07)

"The dollar rose against the euro, bucking data that hinted at an economic slowdown, and closing out a week during which Wall Street rose. The 13-nation euro currency was worth $1.4636 in the late afternoon, down from $1.4753 Thursday. The dollar also climbed against the pound, as the British currency traded at $2.0569 Friday, off from $2.0613."

The San Diego Union Tribune - "County outlook drops on jobs, construction" (11-30-07)

"San Diego County's economic outlook darkened considerably last month, driven by a large jump in unemployment filings and a sharp decline in residential construction, according to an index of leading economic indicators released yesterday by the University of San Diego."

Bloomberg - "Paulson, Banks in Talks to Stem Surge in Foreclosures" (11-30-07)

"U.S. Treasury Secretary Henry Paulson is negotiating an agreement with banks to stem a surge in foreclosures by fixing interest rates on loans to subprime borrowers, according to people familiar with a meeting he led yesterday. Paulson, who will address a housing conference on Dec. 3, presided over a one-hour gathering at the Treasury Department in Washington with federal regulators, bankers and lobbyists. Citigroup Inc., Wells Fargo & Co. and Washington Mutual Inc. executives attended, said a person present, who spoke on condition of anonymity."

The Washington Post - "Fed Chief Offers Hint of Rate Cut" (11-30-07)

"The chairman of the Federal Reserve said last night that the central bank would take into account recent deterioration in the financial markets as it decides whether to cut interest rates next month. Hours earlier, the White House released its economic forecast that acknowledged housing would be a drain on the economy next year, but it said tightening credit conditions would not stall business expansion."

Bloomberg - "U.S. Economy: Spending Increases Less Than Forecast" (11-30-07)

"Consumer spending and incomes in the U.S. rose less than forecast in October, reinforcing Federal Reserve Chairman Ben S. Bernanke's warning of 'headwinds' for the economy in coming months. The housing slump and climbing fuel bills are wearing down consumers, whose spending has helped sustain the six-year expansion. Bernanke acknowledged late yesterday that market ``turbulence'' tied to the collapse of the subprime mortgage market may have harmed the economy."

Bloomberg - "Housing Slump's Third Year to Be 'Deepest' Since WWII" (11-30-07)

"As the U.S. housing slump enters its third year, there is no sign of dawn in the darkness that is paralyzing home building, home buying and home lending. Standard & Poor's 15-member Supercomposite Homebuilding Index tumbled 62 percent this year as of yesterday, the largest drop since the benchmark was started in 1995. The companies have lost about $35 billion of market value."

CNN - "Foreclosure fallout: Renters forced out of lost homes" (11-30-07)

"According to RealtyTrac, a company that tracks foreclosures across the country, 1,785,596 foreclosures have been filed nationwide so far this year, a dramatic increase over a year ago. RealtyTrac say October foreclosures this year were up 94 percent over last October."

The Motley Fool - "Paulson's Plan to Punish the Public" (11-30-07)

"If the mortgage crisis and housing bubble have taught us one thing, it should be to watch out for the unintended consequences of greed. Unfortunately, our nation's legislators and political appointees haven't learned that lesson. Recent plans for housing and mortgage bailouts generally run from dumb to dumber. Today, The Wall Street Journal reported on yet another scheme, reportedly being spearheaded by Treasury Secretary Hank Paulson. In short, bankers and loan-servicing outfits are going to lower interest rates on strapped borrowers so they don't lose their houses. How much, how long, and who qualifies are all still up in the air. No doubt, this will sound good to those folks who signed on for mortgages they can't actually afford."

Real Estate Journal - "Foreclosure Filings Increase, But Default Notices Drop 9%" (11-30-07)

"Foreclosure filings for October rose 2% from September and 94% from a year earlier, but foreclosure activity in general appears to have "leveled off" since peaking in August, a foreclosure-listing service said. According to RealtyTrac Inc., default notices for October dropped nearly 9% from a year ago. 'Some of the efforts on the part of homeowners, lenders and advocacy groups to find alternatives to foreclosure may be starting to have an impact,' said RealtyTrac Chief Executive James J. Saccacio. He added, however, that bank repossessions during the month jumped nearly 35% -- 'evidence that more homeowners who enter foreclosure are losing their homes.'"