Barry Ritholz reprints this extraordinary map - how many homes are underwater (worth less than the outstanding mortgage debt) in the San Francisco area. California was at the heart of the bubble (do bubbles have hearts) - especially the more rural counties of the Bay Area.

Andrew Cuomo, scourge of bankers, seems to be preparing to prosecute anyone at a government supported bank with a bonus of more than $250k for "fraudulent conveyance".

There are new waves of bad news about to break for hedge funds (down $100 billion in the last month) and CDOs.

And, apparently, doubt over whether the FDIC loan guarantee is really a guarantee at all.

Apart from that everything's fine.