Confidence in US banks nosedives after Washington Mutual collapse | Business | guardian.co.uk
i put this link somewhere---i thought it was here. sorry about that.
this outlines the situation with wachovia this afternoon.
curiously under-reported so far in the press is gordon brown's idea of creating a transnational regulatory instrument of some type that'd be in a position to meaningfully regulate global financial flows. that makes some sense--one thing this is demonstrating is that nation-states are at the very limits of their abilities to manage this sort of problem--so either there are restrictions placed on the types of transactions which are permissable that are much tighter than there are presently, or the period of the nation-state will inch a little closer to being quaint.