PalmBeachPost.com - "Who's to blame for foreclosure crisis?" (10-21-07)

"Michael Sichenzia has a problem. The former mortgage whiz who spent time in New York state's prison for mortgage fraud knows that bad home loans claimed some victims and fattened bank accounts for others. But telling them apart isn't easy. 'The thing we have the most difficulty doing nowadays is figuring out who has legitimately been taken advantage of, as opposed to who went into the transaction with their eyes open,' says Mr. Sichenzia, now lead investigator for the Deerfield Beach law firm of Glinn Somera & Silva, which handles foreclosure cases."

Yahoo - "Turbulence Impact Limited on Third World" (10-21-07)

"The World Bank said Sunday the impact of recent turbulence in financial markets on developing countries has been limited and global economic growth remains strong. The bank also called on donor governments to meet their commitments to boost aid for development and said countries with fast-growing economies and mounting currency reserves could bring new resources to this effort."

The San Diego Union Tribune - "Builder says discounting new homes does everyone a disservice" (10-21-07)

"In an industry where price cutting of new homes is increasingly taking hold, he remains firmly against using the marketing tactic. 'I'm a big holdout on that front,' said Pattinson, president of privately owned Barratt Homes of Carlsbad. 'My position is something I've developed having witnessed a number of recessions.' He points a finger at Wall Street's investor-owned home builders for leading the price-cutting charge."

The San Diego Union Tribune - "No time out for builders" (10-21-07)

"The fourth quarter of the year had hardly begun Oct. 1 when home builders and industry experts wrote it off as a disappointment and gloomily predicted 2008 won't be much better. However, what's bad news for builders may be good news for savvy buyers."

The San Diego Union Tribune - "Plummeting home prices: a crash or a correction?" (10-21-07)

"There's an economic commentator in town who likes to poke fun at the idea that home prices are crashing. For the past couple of years, his refrain has gone something like this: 'How come if stock prices drop 10 percent, they call it a correction, but if home prices drop 3 percent, they call it a crash?'"

Los Angeles Times - "Frank proposes bill in wake of mortgage debacle" (10-21-07)

"Democrats introduced legislation Monday that would tighten an array of mortgage lending standards and require U.S. regulators to issue new rules ensuring that loans only be made to borrowers who can afford to repay them. The bill, by Rep. Barney Frank (D-Mass.) and two North Carolina colleagues, could set the baseline for the emerging debate over how to prevent a repeat of the mortgage meltdown. But passage is by no means assured, and elements of the bill are likely to draw intense opposition from the lending industry."

Los Angeles Times - "A chance for first-time buyers" (10-21-07)

"TODAY'S roiling mortgage market and still-high prices have made buying an entry-level house in Southern California seem about as likely for struggling first-time buyers as owning a villa at Italy's Lake Como. At least, that's how Christopher and Hedy Maar saw it. Then lightning struck."

Los Angeles Times - "A killer view, but how's the house sit on the lot?" (10-21-07)

"In most new-home communities these days, buyers not only have the opportunity to select among several floor plans and exterior elevations, but they also get to choose on which lot to place their top pick. Typically, buyers select a lot on a combination of three factors -- size, foliage and view. But there's much more to picking a home site than that."