Ok, not really but its a great way to present both subjects, which dominate the news right now. I was inspired by a colleague of mine who favors graph paper style shirts, and who suggested I address how the subprime mortgage implosion can be resolved through use of iPhones.

But try not to read between the lines.

* Looking for Contagion in All the Wrong Places [Bill Gross – PIMCO]

* His place in iPhone history is secure [LA Times]
* Bank regulators agree on subprime rules: sources [Reuters]

* Is the iPhone the 128K Mac? [PC World]
* House Prices and Subprime Mortgage Delinquencies (pdf) [Federal Reserve – SF]

* Cheaper iPhone needed by next spring to keep momentum [SF Chronicle]
* Subprime lending: Business as usual [CNN/Money]

* Apple – iPhone
* Subprime woes led to 50 lender failures [Reuters]

* Smart phone makers brace for iPhone [BW]
* The sub-slime that ate Wall Street [Salon]

* The Apple iPhone: Fast iFacts [Fox]
* Subprime Crisis Is Likely To Continue Its Sting [WSJ]