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(Reuters) – The Federal Deposit Insurance Corp, in a statement on its Website, says it signed a letter of intent to sell Indymac Federal bank operations to thrift holding company controlled by IMB Management Holdings LP.

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The safety net is almost gone, the nest egg is cracking.

Many Americans have recently found themselves changing retirement plans after losing a substantial amount of home equity as the housing market and the overall U.S. economy struggle. These folks face years of living on fixed incomes from pensions, 401Ks or IRAs, and Social Security, but don't have the time to recover their losses.

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When times are tough, people tend to hold on to what they have that much more tightly. But for those who can get beyond that psychological response, there's a silver lining in today's combination of depressed asset values and low interest rates: Transferring assets to the next generation has rarely been less costly.

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LONDON – House prices in Britain fell in 2008 at their fastest rate for at least 25 years, the country's biggest mortgage lender said Friday, stoking market expectations that the Bank of England will cut borrowing costs further next week.

Halifax, which is part of the HBOS PLC banking group that is about to merge with Lloyds TSB PLC, said the year-on-year decline in prices for the three months ending in December was 16.2 percent, the biggest since records began in 1983.