Voice of San Diego - "Median Home Prices Pummeled in February" (3-8-08)

"With that said let's have a quick look at the median-based price indicators for last month. They were, in a word, horrifying. (So far so good on the brevity). Between January and February, the size-adjusted median price declined 5.7 percent for single family homes and 7.7 percent for condos."

Yahoo - "Banks face 'systemic margin call,' $325 billion hit: JPM" (3-8-08)

"Wall Street banks are facing a "systemic margin call" that may deplete banks of $325 billion of capital due to deteriorating subprime U.S. mortgages, JPMorgan Chase & Co (JPM.N), said in a report late on Friday. JPMorgan, which sent a default notice to Thornburg Mortgage Inc. (TMA.N) after the lender missed a $28 million margin call, said more default notices and margin calls were likely. The Carlyle Group's mortgage fund also failed to meet $37 million in margin calls this week."

Market Watch - "FBI probes Countrywide for possible fraud: report" (3-8-08)

"Besieged subprime lender Countrywide Financial Corp. is being investigated by the Federal Bureau of Investigation for possible securities fraud, according to a news report Saturday. The Wall Street Journal report said the probe focuses on whether Countrywide's management misrepresented the quality of its mortgages in routine securities filings, which may have led investors to overvalue the loans it then securitized into more than $100 billion worth investment vehicles between 2004 and 2007."