Friday Links

Breaking news on WSJ, Treasury Is Close to Finalizing Plan to Backstop Fannie, Freddie. It sounds more like a major liquidity injection, rather than a plan to "nationalize". Apparently the fact that Fannie & Freddie are very profitable right now isn't going to keep the Feds from intervening. But according to CNBC, Paulson & Co don't have many options.

I guess it's not official until someone comes out with a study and announces it: "Housing Bubble Has Popped". Yeah, I'd say...

Folks, you might want to stock up on a few supplies and batten down the hatches. It's going to get wet & windy this weekend.

On a lighter note-
I've heard of (and seen) homes in which house cats have the run of the place, but this is ridiculous: Bobcats on a bank owned roof (LA Times blog). "Taking advantage of a slump in local real estate, a family of bobcats has moved into a foreclosed Lake Elsinore home, lolling about on fences and walls and riveting an entire neighborhood."

Last but not least (I couldn't help myself)-
A new foreclosure avoidance (scam) book: "Save My House, Save My A**". This is not an endorsement. I haven't read it, nor do I plan to.