Bloomberg - "EU Seeks Coordinated G-7 Response to Credit Squeeze" (4-5-08)

"European finance ministers will press their counterparts from the Group of Seven major industrialized nations for greater coordination in battling the credit squeeze that threatens global economic growth, according to the draft of a confidential report prepared for next week's meeting. Central banks and governments around the world have struggled to rein in a surge in the cost of credit that began in August. Banks and securities firms have posted $232 billion in asset writedowns and credit losses stemming from the collapse of the U.S. subprime mortgage market."

Bloomberg - "Bankruptcies Jump 30% in March, Led by Housing-Bust States" (4-5-08)

"The jump in March bankruptcy filings is another indication the U.S. economy is in recession, led by states where the housing boom turned to bust. The more than 90,000 bankruptcy filings in March were the highest since insolvency laws became more restrictive in October 2005, according to statistics compiled from court records by Jupiter eSources LLC. At a daily rate, filings in March were 30 percent above the pace in 2007."

Daily News - "Rules will shield appraisers from lender pressure" (4-5-08)

"In all the chatter these days about mortgage reform, the new rules for appraisers aren't getting a lot of attention. But that issue gained traction after New York Attorney General Andrew Cuomo began investigating allegations of conflicts of interest, fraud and other misconduct - all fallout from the mortgage meltdown. One result is that mortgage giants Freddie Mac and Fannie Mae agreed to cooperate with Cuomo and the Office of Federal Housing Enterprise Oversight in helping regulators tighten home appraisal practices to ensure there is some independence in the process."

North County Times - "Hot deals in midst of real estate bottom" (4-5-08)

"Real estate agents are buzzing: Homes are half-priced. There is a swarm of buyers. The housing market is starting to recover. As proof, agents point to a bevy of offers on several listings. The recovery is being driven by aggressive pricing on cheaper homes, with discounts up to 60 percent off previous sales prices."