The Billyburg Bust (NY Mag)  A fascinating and detailed look at the real estate bust in my old neighborhood of Williamsburg, Brooklyn.

Springtime for German dollar borrowing (Barron’s)  Germany holds billions worth of dollar-denominated reserves and is therefore unhappy with U.S. plans to debase its currency.  If the dollar is going to lose value, might as well issue dollar-denominated debt too.  If you can’t beat ‘em, join ‘em.

As foreclosures surge, Obama considers rental option (CR)  Does this mean folks could stop paying their mortgage and then negotiate a lease with the bank?

Morning madness, economic fundamentals (Denninger)  Karl explains why the math behind stimulus doesn’t add up.

NYPD wastes $1m on typewriters (NY Post)

Bridal bouquet brings down plane (BBC)  Oops.

Texas school district collects $100k in fines ($15 at a time) for errant cell phone use (ABC News)