CNN – New home sales tick up 2.7% 10/27/2008

Sales of newly constructed homes rose in September, according to the monthly report from the U.S. Census Bureau, inching up 2.7% from August to an annualized rate of 464,000.

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http://money.cnn.com/2008/10/27/real_estate/September_new_home_sales/index.htm?postversion=2008102710

Bloomberg – Evil Wall Street Exports Boomed With `Fools’ Born to Buy Debt 10/27/2008

Tom Bosh lowered the telephone receiver into its cradle, making a decision on the way down. “We’re not buying any more,” he told his traders at Bank of New York Co. “Nothing.”

It was May 2007, and Bosh, who managed $25 billion from the bank’s 13th-floor trading room above Times Square, had just hung up on Ralph Cioffi at Bear Stearns Cos. a dozen blocks away. Bosh had invested $50 million in notes from an issuer Cioffi controlled, and he was ready to pull the plug.

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http://www.bloomberg.com/apps/news?pid=20601206&sid=a0jln3.CSS6c&refer=realestate