by Calculated Risk on 9/24/2010 10:46:00 PM

A few stories:

From the WSJ: Bernanke: Efforts Failed to Produce Recovery With 'Sufficient Vigor'. CR Note: unless there are upside surprises in the employment report (to be released on Oct 8th) or the advance Q3 GDP report (released on Oct 29th), I think Bernanke has prepared the way to QE2.

From David Streitfeld at the NY Times: GMAC’s Errors Leave Foreclosures in Question

From Christine Hauser at the NY Times: Bank Losses Lead to Drop in Credit Card Debt

From NPR Planet Money: Toxie, Planet Money's pet toxic asset, died this week.

When we bought Toxie , in January of this year, she seemed like a great deal. We paid $1,000. That was 99 percent less than she cost dring the housing boom.

Every month, when homeowners paid their mortgages, we got a check. We thought we'd make back our investment before she died. But in the end, we collected only $449.

And on the four housing reports this week: "Been down so long it looks like up to me", (book by Richard Fariña)

New Home Sales: Unchanged from July, Worst August on Record

Existing Home Sales at 4.1 million SAAR, 11.6 months of supply

Single Family Housing Starts increase slightly in August

NAHB Builder Confidence stuck at low level in September

I'll have a weekly summary on Sunday.