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ABC's Betsy Stark pointed to Wall Street where the indexes remained practically unchanged and warned: "If you were watching the stock market today you might have been lulled into a false sense of calm." She pointed instead to plummeting sales at auto dealerships where customers cannot get a loan and hundreds of college campuses struggling to meet payroll. On CBS, Cynthia Bowers looked at the suddenly sky-high interest rates municipalities have to pay on bonds. If Birmingham Ala cannot find an $83m payment for its sewer system, its government goes bankrupt. NBC's Roger O'Neil warned that "local budgets are beginning to mimic the national financial crisis" as property tax revenues decline and municipal services are shaved. Potholes go unrepaired. Grass goes unmown. Burned out street lights are allowed to go unreplaced. Police precincts and firehouses go dark.
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