Yet another day of speechlessness! First Congress has a deal, then the White House calls for a photo op, and the whole thing blows up. Perhaps the failure of WaMu overnight, the nation's largest thrift, will put a sense of urgency in place.
On a much more micro-economic note, I have seen a reluctance of lenders to lend on "jumbo conforming" terms (625k) for 2009. In a recent search for a couple of clients, I found several banks "unwilling to quote" or "unwilling to commit". Fortunately, if you look hard enough, there are banks that are lending.
WaMu Fails, Sold Off To J.P. Morgan Chase (WSJ)
Lower Manhattan Diverse Enough To Withstand Job Losses (The Real Deal)
Bailout Deal Viewed With Hope, Uncertainty In NYC (The Real Deal)
Does Seeing Green In WV Lead To Greenbacks? (CityRoom)
Shea Stadium Toilets To Be Recycled In City Parks (NYDN)
Submarine Spotted In East River (Gothamist)
Europeans Still Buying In FiDi (Curbed)
Agreement Near on Modestly Simplified Calatrava WTC Hub (Observer)