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• Housing and Urban Development (HUD) secretary, Alphonso Jackson, resigned today to his duties. He is under criminal investigation but the government didn´t give any reason for his resignation.

• Citigroup Inc (C) has named Nick Roe to head its global equity finance and prime brokerage business. Roe joined Citi in London in 2005, after working for Deutsche Bank AG (DB).

• Federal Reserve Chairman Ben Bernanke will meet on Tuesday with House Republican leaders to discuss the rising threat to the US economy and the need for futher action to address problems in the housing market.

• Citi and Wachovia seen cutting dividends for next month, as shrinking earnings will make it hard to support current payouts. Economic experts believe Citigroup will earn $1.43 a share less than its dividend payout this year.

• Lehman Brothers (LEH) sues Japonese trading company Marubeni. demanding $350 million in damages over alleged fraud.

If you where looking for good news, we can see some statements of a bullish view by Marquest Asset Management (wasn´t easy to find lol).

• Forecast for the S&P 500 dividends for 2008 is expected to outperform bonds, according to their analysis, with an approximate yield of 7,6% for the market.
• Insiders are buying at records level. This is a good sign that the bottom is approaching according to some economists.