This could slow some things down a bit

Bloomberg reports that the CDO market is practically at a standstill, meaning losses in underwriting fees and very tight credit, even for the likes of Blackstone and KKR. If you do not understand collatertalized debt obligations, click on the link above and read. And read about the relationship with collateralized loan obligations and the speculation that more Bear Stearns-like bailouts may be on the way.

This could slow down the huge deals being done at low cap rates. It might also slow down smaller and mid-market deals, but probably not to the same extent as other methods of financing are available.