Chief Financial Officer Alex Sink, Florida's only Democratic elected executive officer, discussed the state of Florida's economy in a breakfast with reporters from the St. Petersburg Times and The Miami Herald. The former bank executive has begun calling banks on behalf of the Florida Home Builders Association, which has pleaded for a "time out" from banks calling in builders' construction loans.

The cratering of the construction and credit markets is all the more reason why Florida must continue to diversify its economic base, she said, and end its reliance on real estate. She cited the wildly overbuilt Fort Myers, now one of the foreclosure capitals of the world. "There's nothing else there, except for Chico's," she said.

On the subject of politics, Sink promised a decision soon on her political future which could include running for the U.S. Senate seat held by Republican Mel Martinez in 2010, running for governor, or staying put, and perhaps preparing for a run for governor in 2014 when the office will be open.

"I'm going to make up my mind very soon," Sink said. "It's all about what's best for me, and what's best for the state."