Bloomberg - "Global Derivatives Market Expands to $516 Trillion" (11-22-07)

"The market for derivatives grew at the fastest pace in at least nine years to $516 trillion in the first half of 2007, the Bank for International Settlements said. Credit-default swaps, contracts designed to protect investors against default and used to speculate on credit quality, led the increase, expanding 49 percent to cover a notional $43 trillion of debt in the six months ended June 30, the BIS said in a report published late yesterday."

The Washington Post - "News Gets Worse for Freddie As Shareholders File Lawsuit" (11-22-07)

"One day after reporting a $2 billion quarterly loss, Freddie Mac found itself the target of a shareholder lawsuit accusing the mortgage-funding giant of misleading investors about its risk-management practices. The lawsuit in a Manhattan federal court seeks damages on behalf of investors, and it comes after a formal investigation by New York State Attorney General Andrew M. Cuomo into loan appraisals for banks that sold mortgages to Freddie Mac and its larger rival Fannie Mae."

Los Angeles Times - "Existing-home sales decrease in 46 states" (11-22-07)

"Sales of existing homes fell in 46 states during the July-September quarter in a worsening of the housing market's slump, a real estate trade group reported Wednesday. The third-quarter figures from the National Assn. of Realtors underscore the severity of the housing market's slump, which has economists increasingly pessimistic about the economic outlook."

Real Estate Journal - "Freddie Mac Posts Deep Loss, Says It May Slash Dividend" (11-22-07)

"Freddie Mac, sucked into the downward spiral of the U.S. housing and mortgage markets, reported a loss of $2 billion for the third quarter and said it is 'seriously considering' a 50% cut in its fourth-quarter dividend."