No end in sight to the financial crisis
At some point the Panic of 2008 will subside, but there are several reasons to expect further strain. Banks and households have started to cut their borrowing, which reached epic proportions in the housing boom, but they still have a long way to go. Furthermore, it is far from clear, even now, that banks are marking their illiquid assets conservatively enough. Full Story »
Posted by Derek Hawkins
