What a week! I am nearly speechless. Looks like the fed has at least doubled our massive budget deficit in a week. Oh, the markets are happy now, but at what cost? And what about the timing of this RTC style bailout? If they had come up with this bright idea a week ago, they could have saved 2 major investment banks and tens of thousands of jobs. Instead we have a massive consolidation and then nationalize the risk of the remaining players. Amazing!
Fed, Treasury, Congress Working On RTC-Style Bailout (NY Times)
NYC Unemployment Rate Jumps 1% (Crain's)
Idiot: Stockbroker Steals Clients Money, Then Loses It In Common Nigerian E-Mail Scam (NY Times)
List Of New York's Richest Real Estate Developers (Observer)
The Game Of Quantifying Square Footage (The Real Deal)
Morphosis Reflects Old On New At Cooper Square (Curbed)