Early Afternoon Update

Barney Frank and the politics of TARP disbursement. [WSJ]

A truly dismal December for new-home construction nationwide. [NY Times]

Volume of mortgage applications falls. [TRD]

Maybe! It looks like Marc Jacobs may be renting in Balazs' 40 Mercer. [NY Post]

Sephora opening 5 Times Square flagship. [GlobeSt]

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