Economy faces recession, probably in Q1 - Yahoo! News

Economy faces recession, probably in Q1 - Yahoo! News: "Economists expect core inflation to dip to an average of 2.4 percent in the third and 2.3 percent in the fourth quarter and then decline to 2.2 percent in 2009 as a whole. For 2008, headline inflation will be 3.5 percent, dropping to 2.3 percent in 2009, the poll showed."

Wall St. throws Elliot Spitzer under the bus

Looks like Wall St. has thrown Spitzer under the bus.

Spitzer Resists Calls to Resign - WSJ.com: "Mr. Spitzer's status as a prominent government official appears to have opened the door to investigation into the matter. Many banks now examine transactions involving so-called 'politically exposed persons' -- politicians, judges, prosecutors and their families -- to ensure they're not used to hide ill-gotten gains. At least one bank used by Mr. Spitzer, Capital One Corp.'s North Fork unit, flagged his transactions to federal regulators as a potential sign of corruption, people with knowledge of the transactions said."

Interfluidity :: Repurchase agreements and covert nationalization

Interfluidity :: Repurchase agreements and covert nationalization: "What we are witnessing is an incremental, partial nationalization of the US banking system. Northern Rock in the UK is peanuts compared to what the New York Fed is up to."

Homeowner Equity Is Lowest Since 1945: Financial News - Yahoo! Finance

Homeowner Equity Is Lowest Since 1945: Financial News - Yahoo! Finance: "The proportion of all mortgages nationwide that fell into foreclosure surged to a record of 0.83 percent, while the percentage of adjustable-rate mortgages to borrowers with risky credit that entered the foreclosure process soared to a record of 5.29 percent."

That doesn't sound too bad.