conuly

You're about right as far as I recall, though there was more to it than that… Unfortunately I don't remember most of the details… However, if you have DSL/cable for internet access, then plug in the first Great Britain proxy listed at Xroxy.com, go to http://bbc.co.uk/iplayer to search for World News Today & Newsnight. They're both covering the economic mess with an informed yet easy-to-understand approach that includes how our gov't handled the issue in the Great Depression.

They didn't seem to have confusion about why the problem is taking place, unlike the experts in the article you linked to in another post… The consensus seemed to be that the real problem is actually a lack of rational, calm thought: traders became irrationally afraid banks would become insoluble, so they're doing things to protect themselves that unfortunately are making the banks unstable. There's no nice, rational, economic explanation because this time it's all about messy human emotions.