Home Prices Fall, Covered Bond Market, Merrill's CDOs

This time, it's 16% year over year, from last May. Meanwhile, regulators, bankers and traders, led by Treas Sec Hank I'm-Sorry-I-Ever-Left-Goldman Paulson came together on Monday to figure out how banks can come up with cash for mortgages. They're hoping to develop a “covered bond market." Not sure what the hell that is? Read this.Merrill has decided to sell $30.6 BILLION of their securities