Merrill Lynch saying that a recession in the US “has arrived”, to which I say, “what took you so long”?

Countrywide Financialis hit by rumors of bankruptcy, and they have admitted that they fabricated documents in a foreclosure suit., so their stock is tanking.

Morgan Stanley has downgraded Ambac Financial and MBIA, two of the largest bond insurers because of concerns about mounting losses.

New home contracts fall, the National Association of Realtors’ has upped their estimate for year over year losses, and KB Home’s losses shoot skyward.