Federal regulators are worried that banks nationwide may be ill-prepared to handle their battered loan business, according to The Housing Bubble, which points out that banks could face loan losses of Great Depression era levels. In fact, the annualized 1Q2008 domestic loss numbers are already higher than in any year since 1934. For that story and more, check out Big Builder's bi-weekly roundup of the latest in opinion and commentary across the Web.
The recent IRS ruling on the Foreign Investment in Real Property Tax Act (FIRPTA) should have several positive impacts, according to Seeking Alpha, including a boost to liquidity in the real estate market.
As Moody's downgrades MBIA and Ambac Financial Group from their AAA ratings, Reggie Middleton's Boom Bust looks back at the writing that's been on the wall for several months.
In honor of Thursday's historic moment in the credit crunch--i.e. the indictment of two former Bear Stearns hedge fund managers, Inman News posts a link to the "Subprime Primer," a funny PowerPoint that made the rounds among Wall Street traders last year--though perhaps less funny now as 2008 forges on with little sign of recovery.
BusinessWeek's Hot Property reports on troubled times at Washington Mutual, which recently announced a major restructuring, Project Restart--and the elimination of 1,200 jobs.
The Wall Street Journal speaks with a man who salvaged a 1913 Tudor mansion on the brink of being condemned and discovers the "manly" meaning of green.
Dr. Housing Bubble takes on Beverly Hills and the plague of disappearing equity--but, on a brighter note, posits that current economic conditions could help to improve the national divorce rate.