Mortgage Bankers Association - "MBA’s Courson Comments on Draft Legislative Language on Federal Plan to Purchase Mortgage Assets" (9-22-08)

"Resurrecting bankruptcy cram down during this current crisis would be wholly unproductive and, in fact, runs counter to the bi-partisan efforts to restore liquidity to the global capital markets. In fact, it is really irrelevant to the current discussion. Once the fund purchases the distressed mortgages, it doesn’t need a bankruptcy judge to rewrite the loan balance. It can write down the loan balance itself, without Congress giving bankruptcy judges that authority."

CNN - "Can't anyone afford my home?" (9-22-08)

"Price, though, is still the primary measure of affordability for any buyer. And while the median price for an existing house has tumbled 8% from $230,100 to $212,400 since its peak in 2006, according to the National Association of Realtors, many potential buyers still see asking prices as expensive."

Yahoo - "Morgan Stanley to sell 20 pct stake in itself" (9-22-08)

"Investment bank Morgan Stanley said Monday it signed a letter of intent to sell up to 20 percent of the company to Mitsubishi UFJ Financial Group Inc. Financial terms of the deal were not disclosed. If the deal is completed, the price would be based on Morgan Stanley's book value after Japan's largest bank completes a due diligence review. The letter of intent signed by both banks is nonbinding."

Dad Talk - "Where’s My Bailout Money?" (9-22-08)

"$700 billion doesn’t include the several hundred billion dollars spent to bail out AIG, Freddie Mac, Fannie Mae and Bear Stearns. Add in the shoring up of Money Market Funds, the tax stimulus effort earlier this year and other programs to rescue homeowners, and we’re talking well over $1.5 trillion."

Orange County Register - "Moody’s downgrades WaMu to its lowest rating" (9-22-08)

"WaMu is expected to lose a total $19 billion over the next 2-1/2 years. The Seattle-based bank lost $4.8 billion in the first six months of 2008."