Bleak outlook for Europe’s toads BBC
Shortages In Southeast Create Panic, Gas Lines Washington Post
Wild day, no deal Politico
Discount Window Borrowings: $262 Billion John Jansen. This is more telling than the TED spread or Libor-OIS. The banking system is on life support.
For Greenwich, ‘This Is Our Katrina’ The Wealth Report Blog, Wall Street Journal. Yes, someone did say that with a straight face. And more.
Why The Government Cannot Modify Mortgages If It Purchases $700BN of MBS Adam Levitin, Credit Slips
Latest Bailout Plan Spin: Its a Money Maker! Barry Ritholtz
NYT Gets It Wrong: Credit Has Not Frozen Dean Baker. He clearly doesn’t read the financial press, but Baker does make a valid poit about a New York Times article.
Wall Street worries, Main Street woes David Altig. One metric says housing prices have a lot further to fall.
Short-selling’ church leaders accused of failing to practise what they preach Times Online
Companies Under Pressure New York Times. One thing that is a tad misleading is that it make the deterioration of corporate credit sound like a surprise. Nouriel Roubini and some credit market experts called this one some time ago.
DeLong Smackdown Watch (Special Self-Smackdown Edition): Greenspanism and Its Discontents Brad DeLong (hat tip reader Scott)
Antidote du jour:
dearieme 
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Brad DeLong, grasping reality woth both hands and watching it slip through his fingers.