This just out:
Regulators take over IndyMac Bank
In a nutshell, federal banking regulators just shut down IndyMac Bank FSB. It will reopen on Monday as IndyMac Federal Bank, run by the FDIC (Federal Deposit Insurance Corporation).
From the L.A. Times:
The federal government said it took control of troubled IndyMac Bank today, in what regulators called the second-largest [...]

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Last week, PMI Mortgage Insurance Co released its Summer 2008 U.S. Market Risk Index, which ranks the nation’s 50 largest metropolitan statistical areas (MSAs) according to the likelihood that home prices will be lower in two years.
The bad news? The Phoenix real estate market has (according to PMI) a 79.6 percent probability of home prices declining [...]

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Wowsa. It’s been a pretty brutal day for economic news:
Foreclosures Hit Record High
“Hysteria” Drives Oil to Record High
Unemployment Up Sharply Nationwide (held its own in Arizona by the way)
As such, the stock market took a pounding today, with the Dow losing 395 points (All the broad market indexes were down about 3% today).
I’m a bit [...]

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I mentioned back in October that Google’s “Street View” was rolling out in Phoenix. Street View allows web users to “navigate” Google Maps and view 360–degree panoramic images.
In that post I briefly touched on the privacy concerns some folks have with Street View. Now The Smoking Gun reports a Pittsburgh couple has filed a lawsuit against Google [...]

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California home buyers are suing their real estate agent who they claim duped them into overpaying.

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