Real Estate
Cayne out as Bear Stearns CEO (AP)
AP - Bear Stearns Cos. said Tuesday that Chief Executive James "Jimmy" Cayne will give up control of the fifth-largest U.S. investment bank amid unprecedented losses from the subprime mortgage crisis. Read more…
Paulson pessimistic over housing (FT.com)
FT.com - There is "no evidence" the US housing market is bottoming out, Hank Paulson, Treasury secretary, said on Tuesday, offering a sober view of US economic prospects. Read more…
AT&T, housing market woes trigger fresh fears over economy (FT.com)
FT.com - US stocks suffered a late afternoon plunge on Tuesday as downbeat news from AT&T and more trouble in the housing market raised fresh fears over the health of the US economy. Read more…
U.S. nonprofits bear brunt of foreclosure fight (Reuters)
Reuters - Mohammed Ibrahim is overwhelmed by people asking for help. Read more…
Baltimore sues Wells Fargo for subprimes (AP)
AP - Black neighborhoods in Baltimore were disproportionately affected by the subprime mortgage fallout, according to a federal lawsuit filed Tuesday by the city, which is attempting to recoup the costs of maintaining neighborhoods wracked by foreclosures. Read more…
