Financial Times - "GE warns of bubble in credit markets amid subprime woes" (4-14-07)

"The US subprime mortgage crisis hit General Electric yesterday, wiping $373m from the industrial conglomerate's first-quarter profits and prompting its executives to warn of an incipient "bubble" in global credit markets. GE said it had replaced the senior management team at its mortgage unit and would reduce its workforce by about 1,000people, or 40 per cent."

Bloomberg - "U.S. Homebuilders Face Bankruptcy Risk in '08, Lawyers Say" (4-14-07)

"The collapse of the subprime mortgage market may push some big U.S. homebuilders toward Chapter 11 beginning next year, according to bankruptcy advisers and lawyers who specialize in the real estate industry. The weakest publicly held builders are staying out of bankruptcy by relying on the profits they made when sales boomed and on the public debt they sold in those years, said Ronald Greenspan, a lawyer and financial adviser to the creditors of four bankrupt subprime mortgage lenders. Homebuilders issued $3.6 billion in public debt in 2005 and 2006, though only $600 million of that comes due this year, Greenspan said."

News 10 - "Early Buyers Feel Condo Conversion Sting" (4-14-07)

"Owners who bought 'luxury' condo conversions at the peak of the market now complain their complexes still feel like apartments."