Wow, what a weekend!  Since so much has happened, I'm going to start with
the banks.  WaMu and Wachovia were heading down the same path as IndyMac
when the Federal Government stepped in and helped orchestrate a deal with
JPMorgan Chase and Citibank respectively.  These now defunked banks have had
their entire assets sold to the stronger banks, which will have no material
effect on the depositors.  WaMu's clients will now be Chase clients.  It's
another step in helping to secure the world's financial system without
needing to touch the reserves of the FDIC.  Central banks all over the world
today added another $630 Billion to the financial markets to again, add more
liquidity!

Now to the $700 Billion, or is it $150 Billion, no I think it's $250
Billion, and I guess who really knows how much it is.  One thing we do know
is that the lawmakers in Washington spent the weekend "negotiating" the
bill.  Another phrase for "negotiation" is Washington is "Adding Pork."  The
bill has been changed and so has some of the optimism of the bill getting
passed.  We shall wait and see what the bill will actually look like after
it is passed sometime on Wednesday due to the Jewish New Year Holiday
tomorrow.  Unfortunately we know right now that the bill did not pass in the House. We will have to wait and see what terms will be negotiated now! We all have been hoping for this "shot of liquidity" and hopefully once the banks start to see the flow, they'll start to loosen
their willingness to lend and then the world will be "right again."

Look for updates this week on the new bill passing and watch the volatility
in the market.  The mortgage rate right now may no longer be valid 10 minutes from
now!  As always, anything you need please do not hesitate to contact me!