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A trio of reports on the continuing gloom of the economy saw CBS' Byron Pitts follow the rising demand for the Supplemental Nutrition Assistance Program--that is food stamps in plain English. There are now 31m recipients, up 2m in just the last month. Hungry states like Texas and Florida have 20% larger rolls than this time last year. CNBC's Erin Burnett reported on NBC that "the two year housing slump is getting worse" as prices continue to fall and unsold inventory continues to grow despite low mortgage rates. A 5% rate for 30-year mortgages helps refinancers with plenty of equity, income and credit rating but not would-be buyers or those who owe more than they own.
Only ABC assigned a correspondent to the fallout from the failure of Bernard Madoff's investment fund. Sharyn Alfonsi (embargoed link) brought us the tale of Thierry de la Villehuchet, the 65-year-old French financier and founder of Access International Advisors. All his money had been in Madoff's hands. He was found dead in his midtown Manhattan office, an apparent suicide.
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