Bloomberg - "Stiglitz Says Ties to Wall Street Doom Bank Rescue" (4-17-09)

"The Obama administration’s bank- rescue efforts will probably fail because the programs have been designed to help Wall Street rather than create a viable financial system, Nobel Prize-winning economist Joseph Stiglitz said."

Bloomberg - "General Growth’s Bankruptcy May Let Rivals Buy Malls" (4-17-09)

"When General Growth Properties Inc. bought Rouse Co. for $11.3 billion in 2004, then-Chief Executive Officer John Bucksbaum said the deal amounted to 'five years worth of acquisitions in one fell swoop.' Now the challenge will be keeping those assets. Purchasing Rouse gave General Growth malls including Boston’s Faneuil Hall, New York’s South Street Seaport and the Woodlands in Houston. It also added almost $10 billion in debt to its balance sheet and led the second-largest U.S. mall owner to file for Chapter 11 bankruptcy protection yesterday."

Bloomberg - "GMAC Follows Wells Fargo Into ‘Warehouse’ Mortgages" (4-17-09)

"GMAC LLC, the auto and home lender that required a $6 billion government lifeline last year to stay afloat, said it’s taking advantage of record low interest rates by issuing more loans through independent mortgage bankers."

Bloomberg - "Lender Processing Plunges on News Report of Inquiry" (4-17-09)

"Lender Processing Services Inc. plunged as much as 37 percent after Dow Jones News Service reported that the company was the subject of an inquiry by the U.S. Trustees Office, an arm of the Justice Department that monitors bankruptcy courts."

Bloomberg - "FICO Web Site May Help Homeowners Seeking Loan Modifications" (4-17-09)

"The Minneapolis-based credit-rating company is unveiling a new Web site today, mortgagereliefonline.com, to help struggling homeowners avoid foreclosure. Borrowers complete a confidential online form and should find out within seconds whether they may qualify for loan modifications or refinancing, according to a statement from the company. A free credit counselor approved by the U.S. Housing and Urban Development department will contact the eligible borrower within 48 hours, FICO said."

Orange County Register - "O.C. office owners face bleak prospects" (4-17-09)

"Three brokerages issued first-quarter reports showing that office rents in Orange County continue to fall as vacancies rise. The company statistics vary since their data come from surveys of different buildings with different parameters. But all three agreed on the overall trends."

Orange County Register - "$61,838 pay needed to afford O.C. rents" (4-17-09)

"Orange County has the 7th highest apartment costs among major metropolitan areas — when measured as what salary it would take to afford (30% of income) a typical two-bedroom apartment, according to affordable housing advocates at National Low Income Housing Coalition."

Realty Times - "Investor Report: Rental Market Hurting" (4-17-09)

"A new survey by a real estate research company confirms that landlords nationwide are being forced to lower what they charge their customers, whether through direct rent reductions or freebies and breaks on lease terms that have the same net result. New York-based REIS, Inc. reports that half of all apartment buildings in the U.S. reduced rents in the fourth quarter of 2008 and the first quarter of this year, according to Business Week."