For more on the financial crisis, check outGlobeSt.com's Webinar, "Wall Street In a Freefall—TheWinners and Losers."

NEW YORK CITY-"It's not like the savings and loan crisis thatwas somewhere else," said John Powers, chairman of the New Yorktri-state region for CB Richard Ellis. "This one is very close tohome."

Powers, speaking Friday at a luncheon sponsored by CoreNetGlobal's New York chapter, was referring to the financial servicesupheaval that began earlier this month with the federal takeover ofFannie Mae and Freddie Mac and intensified last weekend with thebankruptcy ofLehman Brothers, the sale of Merrill Lynch and the bailout of AIG.He said Wall Street hasn't seen anything like it since the GreatDepression. In fact, the crisis gathered momentum so rapidly thatfellow panelist Marisa Di Natale said she waited until the lastminute to put her presentation together, "because things arechanging so rapidly."