Voice of San Diego - "Jury Says Realtor Not to Blame for Purchase Price" (4-11-08)

"What are the responsibilities of a real estate agent? The real estate camp was concerned that if the plaintiffs won Thursday, it would catalyze and focus a growing urge around the country to find someone to blame -- and to hold financially responsible -- when houses aren't worth as much as their buyers once paid. Those who sided with the Ummels worried their case would be chalked up to rich people problems, a matter of a measly $150,000 in the scope of a million-dollar tract home near a golf course in North County."

Bloomberg - "Subprime Forces More Insurer CEO Pay Cuts Than Storms" (4-11-08)

"Subprime mortgages have proved to be a bigger catastrophe for captains of the insurance industry than any natural disaster. American International Group Inc. cut the 2007 cash bonus for Chief Executive Officer Martin Sullivan by 42 percent as the world's largest insurer reported its biggest quarterly loss in 89 years. Ambac Financial Group Inc. denied Robert Genader any bonus, slashed his cash compensation by 71 percent and then replaced him in January. The reduction was the most of any insurer in the Standard & Poor's 500 Insurance Index."

New York Post - "ECONOMIC HYSTERIA" (4-11-08)

"MEDIA hysteria over the mortgage crisis is almost certainly misleading countless people about prospects for the real economy. The US economy is likely in recession. Yet even that conclusion may be premature - it rests on a short sample of slim evidence. Industrial production has fallen for only one month. First-time claims for unemployment insurance touched recession levels for just one week."

Bloomberg - "WaMu Estimates Cut by Goldman, Short Sale Recommended" (4-11-08)

"Washington Mutual Inc.'s 2008 loss will be wider than first estimated, according to Goldman Sachs Group Inc., which recommended selling the shares short. Goldman analysts including James Fotheringham increased their estimate for Seattle-based Washington Mutual's full-year loss to $3.30 a share from $1 after the company's 'highly dilutive' share sale, the securities firm said today in a note to investors. Goldman helped arrange the $7 billion transaction earlier this week at 33 percent below the market price."

Yahoo - "G7 finance chiefs look for ways past credit crisis" (4-11-08)

"Finance chiefs from rich nations gathered on Friday to agree on the best course to navigate beyond a credit crisis that threatens to trigger a global recession. With fresh signs of economic distress in the United States, where consumer confidence hit its lowest level since 1982, Group of Seven leaders acknowledged that global growth prospects had dimmed."

Bloomberg - "Lehman CFO Says Market Recovery May Take Until 2009" (4-11-08)

"The global credit market crisis worsened last month and recovery for the securities industry may take until next year, Lehman Brothers Holdings Inc. Chief Financial Officer Erin Callan said."

Bloomberg - "Wachovia Tightens Standards for Home Loans Nationally" (4-11-08)

"Wachovia Corp., the fourth-largest U.S. bank, will require minimum credit scores for mortgage borrowers and will reduce loan-to-value ratios because of the weak U.S. housing market."

Bloomberg - "Subprime Forces More Insurer CEO Pay Cuts Than Storms" (4-11-08)

"Subprime mortgages have proved to be a bigger catastrophe for captains of the insurance industry than any natural disaster. American International Group Inc. cut the 2007 cash bonus for Chief Executive Officer Martin Sullivan by 42 percent as the world's largest insurer reported its biggest quarterly loss in 89 years. Ambac Financial Group Inc. denied Robert Genader any bonus, slashed his cash compensation by 71 percent and then replaced him in January. The reduction was the most of any insurer in the Standard & Poor's 500 Insurance Index."

Orange County Register - "Late-March home sales up in just 5 O.C. ZIPs" (4-11-08)

"DataQuick’s latest look at O.C.housing purchases shows that just 5 of 83 local ZIP codes enjoyed year-to-year sales growth in the 22 business days ended March 26. (The lucky five? Irvine 92618, Anaheim 92805, Orange 92865, Santa Ana 92703 — yes, Santa Ana, and Dana Point 92624.) Overall, sales were down 41%."