The Washington Post - "Homeowners Losing Equity Lines" (2-23-08)

"Several of the nation's largest lenders, along with smaller ones, are shutting off access to home equity lines in areas where home values are declining. It's an unusually aggressive move as the industry grapples with fallout from the mortgage crisis that began unfolding last year. Now that home prices have dropped in many parts of the country, lenders are nervous that they may never collect the money that they extended to borrowers. They are responding by freezing or lowering the credit limits on home equity lines, leaving thousands of borrowers like Corazzi in the lurch."

Bloomberg - "Ambac May Get $3 Billion in New Capital, Person Says" (2-23-08)

"Ambac Financial Group Inc., the bond insurer facing a crippling credit-rating downgrade, may get $3 billion in new capital as part of a rescue agreement with banks, according to a person with knowledge of the discussions. An announcement may come early next week, said the person, who declined to be named because no details have been set. The New York-based company rose 16 percent in New York Stock Exchange trading yesterday after CNBC Television said Ambac and its banks were preparing a deal."

Los Angeles Times - "Banks want 'an epic rescue plan'" (2-23-08)

"The New York Times notes the banks are now pushing 'an epic rescue plan': 'A confidential proposal that Bank of America circulated to members of Congress this month provides a stunning glimpse of how quickly the industry has reversed its laissez-faire disdain for second-guessing by the government — now that it is in trouble.'"