Extra Credit, Tuesday Edition

FOMC Statement: No change, as expected.

Hovering Above Poverty, Grasping for Middle Class: "The vast majority of those polled said religion or their faith in God plays an important role in helping them through financial straits."

Argh. It hurts: "I, Baruch, have just had the worst 2 days of my investment career."

Just some comments on the email I am getting: "If a major earthquake were to flatten the Inland Empire not only would it be a human tragedy – but I doubt anyone would want to rebuild a large number of the houses. What is a bad situation there for Fannie could turn suddenly diabolical. Warren Buffett once said that he thought Fannie Mae had more super-catastrophe risk than Berkshire."

The Consigliere Creed: "To me Sam Walton was one of the great value investors–his only investment was "build more Wal-Mart stores" but the returns on those investments have put most hedge fund managers to shame."

NYT Hit Job on Freddie Mac: Whenever there’s a real-estate-related story on the front page of the NYT, your first stop should be Tanta to see what she thinks.

Great Moments in Business: A Five-Act Play: A brief history of Carl Icahn and WCI.

What’s the value added of World Bank?

Inside the Economist’s Mind: A Book Review

FT European house price guide: A nice interactive map.

Delta to Become Only Major U.S. Airline to Offer Broadband Wi-Fi Access on Entire Domestic Mainline Fleet

Parking Ticket Leads to Home Foreclosure

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