Here's what Joel Sherman says about the Yanks and Roy Halladay:
A person close to the Steinbrenner family said that Cashman has not even asked permission to expand the 2009 payroll nor is there anticipation that ownership would allow a significant financial increase now. This is pertinent because the Yankees do believe that the Red Sox have put Clay Buchholz into a trade offer for Halladay and that Boston just might get the ace righty. …
As of early this afternoon, the Yankees also had engaged in no extensive talks with the Mariners for Jarrod Washburn. The Mariners had yet to request any players from the Yankees.
Either due to high financial costs or because their scouting reports are not overly favorable, the Yanks also are not pursuing Cincinnati's Bronson Arroyo, or Arizona's Doug Davis and Jon Garland.
So the Yankees are doing basically nothing this trade deadline? I don't find this entirely believable.