The Koreans reportedly fail to come through for Lehman - now what? asks Edward Harrison...

And - Time for the ECB to turn off the tap, says Wellink:

Ever since the credit crisis erupted a year ago, central banks have pumped tens of billions into the market to avoid a systemic crisis. "There has been an adequate response," Wellink said. "But there must be a limit to how long you can do this. There comes a point when the market takes over. "