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  1. Nevada, Michigan and Florida lead 'underwater' mortgage list (The Pantagraph)
    pantagraph.com
    Here’s a shocker: Almost half of Nevada homeowners with a mortgage owe more to the bank than their homes are worth. Here’s another: If you add in the homeowners like them in California, Arizona, Florida, Georgia and Michigan, together they account for nearly 60 percent of all homeowners who are “underwater” on their mortgages.
  2. Banks to clamp down on credit card holders - Detroit Free Press
    www.freep.com
    The credit crunch is closing in on credit cards. Banks that got burned on bad mortgages are now bracing themselves for billions more in bad debt on credit cards -- so they're trying to cut their losses by cutting off customers. Big-name credit card ...