It's a Really Bad Sign When Even Banks Can't Secure a Loan

This article is a good read if you're for the $700B bail out of wall street. It appears to be written in the stance to amplify concern over the freezing of our economy and the flow of funds between banks.

A few of the interesting bullets:

If the state of California were to try to issue a 20-year bond now, it would have to pay an annualized interest rate of about 5.4%, up from 4.84% just two weeks ago.

As for mortgages, Wells Fargo & Co. this week was charging 9.25% for "jumbo" 30-year loans -- those larger than about $730,000.

You can read the rest of the article here.