Friday, September 14, 2007

It's not just a US credit crunch

...when something like this affects the global economy, dealing with it takes swift, prudent, coordinated effort.

Liquidity crunches often precipitate severe economic downturns. Let's hope the Fed coordinates and cooperates with other central banks and they deal with this swiftly.

I don't really feel like enduring another Great Depression. And we all know we can't start a war to get ourselves out of this mess.

British Mortgage Lender Offered Emergency Loan - New York Times