The Fed's finally managed to pour more money into the markets than they can soak up - yesterday's vastly increased TAF auction was undersubscribed. (Undeterred, the Fed's planning an entirely new intervention - in the commercial paper and unsecured lending markets.)
There's no sign of an easing in interbank lending costs - Libor rocketed up again today.
And there are reports that RBS, Lloyds and Barclays - the UK's three biggest banks - are calling for a £15 billion bailout. That's £15 billion each.
Warren Buffett is still sanguine, buying into GE despite rumours (via Felix Salmon) that it's on the brink of bankruptcy.


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