DQNews - "California January 2008 Home Sales" (2-18-08)

"A total of 19,145 new and resale houses and condos were sold statewide last month. That's the lowest number for any month in DataQuick's records, which go back to 1988. It was 25.2 percent lower than December's 25,585 and 41.0 percent lower than 32,425 for January last year."

Bloomberg - "Platinum Rallies Above $2,100 for First Time; Gold Also Climbs" (2-18-08)

"Platinum surpassed $2,100 an ounce for the first time after money managers increased investments to a record as a power crisis and accidents at mines and smelters curb output in South Africa, the largest producing nation.Investment in platinum-backed shares created by ETF Securities Ltd. rose to an all-time high of 288,680 ounces by Feb. 14, according to its Web site. Anglo Platinum Ltd., the world's biggest producer of the metal, on Feb. 15 said damage to a smelter in South Africa will take four to six weeks to repair. The country provides about 80 percent of global supply."

Bloomberg - "Bond Insurer Split May Trigger Lawsuits, Analysts Say" (2-18-08)

"New York Insurance Department Superintendent Eric Dinallo and New York Governor Eliot Spitzer said last week that insurers may need to be divided if they can't raise enough capital to compensate for losses on subprime-mortgage guarantees. FGIC Corp., the fourth-largest of the so-called monoline insurers, asked to be split on Feb. 15 after Moody's Investors Service cut the Stamford, Connecticut-based company's top Aaa ranking."

Bloomberg - "Bernanke's Rate Cuts Force Asia Back to Price Limits, Subsidies" (2-18-08)

"Ben S. Bernanke, the champion of free markets, is driving Asia's governments back to controlled economies. Under Bernanke's chairmanship, the Federal Reserve's steepest interest-rate cuts since 1990 are limiting his Asian counterparts' options to curb inflation. Instead of raising their own borrowing costs or letting their currencies appreciate faster, governments are resorting to regulating meat and egg prices in China, stockpiling cooking oil in Malaysia and subsidizing utility bills in Indonesia and the Philippines."

CNN - "Countrywide expands scope of mortgage help" (2-18-08)

"Countrywide Financial says it will expand programs to help borrowers manage their mortgage payments regardless of the type of subprime loan they have or whether they have already fallen behind on payments. Full details of the initiative, the result of a pact with a national community advocacy group, were to be disclosed Monday. Initial plans to disclose the deal were postponed last month after Countrywide agreed to be acquired by Bank of America (BAC, Fortune 500) for $4.1 billion in stock."

CNN - "Jumbo mortgages: The best deals" (2-18-08)

"For many house hunters, these are good times. Home prices have fallen 10% or more in once-hot markets, and interest rates on mortgages of $417,000 or less have sunk to their lowest levels in four years. Today a family with solid credit and enough cash for a 20% down payment can lock in a rate of only 5.9% on a 30-year mortgage, according to Bankrate. Thank you, Ben Bernanke!"

Yahoo - "Northern Rock shares suspended on nationalisation plan" (2-18-08)

"Shares in troubled British bank Northern Rock were suspended on Monday as the group, devastated by the global credit crunch, said it would be taken into public ownership in the coming days. Northern Rock's share price has never recovered since it was forced to request emergency funding from the Bank of England in September when thousands of account holders flocked to take their money out of the mortgage lender."

Herald Tribune - "Popularity of bonds turning some investors away" (2-18-08)

"Last year, U.S. Treasuries benefited tremendously from the flight from risk as the credit crisis began. But the sector's popularity took off when the Federal Reserve started cutting interest rates aggressively last September to support the economy. It has reduced its target for the federal funds rate by 2.25 percentage points, to 3 percent."

The Washington Times - "401(k) debit draws red flags" (2-18-08)

"A new debit card that lets consumers use ATMs to withdraw money from their 401(k) plans is drawing a sharp reaction from financial planners. The ReservePlus card is marketed by Reserve Solutions Inc., a New York financial firm that says it has 10,000 cardholders already."