Friday morning links

TOP STORIES
WaMu becomes biggest bank to fail in US history - AP
Talks Implode During Day of Chaos; Fate of Bailout Plan Remains Unresolved - NY Times
WaMu Is Seized, Sold Off to J.P. Morgan, In Largest Failure in U.S. Banking History - WSJ
Hundreds of Economists Urge Congress Not to Rush on Rescue Plan - Bloomberg
Asia's banks may be less pristine than assumed - Reuters

MARKETS/INVESTING
India gold firmer, buyers eye corrections - Reuters
Shipping Market Sinks Most in 9 Years on Steel Output - Bloomberg
Financial fears send nation's stress soaring - USA Today
Gas Shortage In the South Creates Panic, Long Lines - Washington Post
Will China exchange US Dollars for Gold? - Commodity Online

ECONOMY
U.S. Economic Growth Slower Than Initially Estimated - Bloomberg
Undecided Voters Are Gloomier, Lean Toward Obama to Fix Economy - Bloomberg
U.S. New-Home Sales Fell in August to 17-Year Low - Bloomberg
NBC says local TV profoundly affected by downturn - Reuters

HOUSING
Schwarzenegger vetoes bill increasing oversight of mortgage brokers - LA Times
20 reasons to cheer falling house prices - TimesOnline
Reaction to Bailout Proposal Runs the Gamut - HousingWire

FED/TREASURY/BANKING
Fed's Fisher Says Rescue Would Increase Fiscal Burden - Bloomberg
Investment, commercial banks borrow $218 bln from Fed - MarketWatch
Credit Enters a Lockdown - NY Times

INTERNATIONAL
China Allows Short Sales, Margin Loans to Help Market - Bloomberg
Spanish house sales drop sharply - BBC
Japan's Inflation Exceeds 2% for Second Month on Oil - Bloomberg
China denies shunning foreign banks - Reuters
Australia May Cut Rates by Most Since 2001, Traders' Bets Show - Bloomberg
Asia Needs Deal to Prevent Panic Selling of U.S. Debt, Yu Says - Bloomberg

INTERESTING
U.S. Mint runs out of 1-ounce gold buffaloes - GATA
Barclays Puts Logo on Lehman Office, Gets 32-Floors of Anxiety - Bloomberg