Bad news: if all of the business news talking heads are to be believed, we have yet to see or feel the worst of this recessionary period out government has artfully placed us in. Bummer, for sure.
But, luckily, not all is loss. There are still some financial institutions out there willing to lend to people down on their luck, say, the Council of Fashion Designers of America and Vogue. And the recipients of their goodness? Creative but broke designers strolling around New York right now. In this clip from Style.com, check out the 10 finalists of the 2008 CFDA/Vogue Fashion Fund. The winner will receive $200,000 plus business mentoring (a coveted shout out in Vogue) and two runner-ups will walk away with $50,000 each.

PS: We're rooting for Alexander Wang. Although with the announcement of a diffusion line, we don't expect he's too hard for cash right now.