Quote of the day

The western financial system is caught in a trap. On the one hand, there is an urgent need for clearing prices to be established for impaired assets to restore confidence; on the other hand, if this is done in a mark-to-market world, there is a risk that some banks will run out of capital. Policymakers are in the unenviable position of knowing almost any step they take risks denting sentiment further.--Gillian Tett

Echoes of Elvis:

We're caught in a trap
I can't walk out
Why can't you see
What you're doing to me
When you don't believe a word I say?

We can't go on together
With suspicious minds
And we can't build our dreams
On suspicious minds

Here we go again
Asking where I've been
You cant see these tears are real
I'm crying

Let's don't let a good thing die

When honey, you know
I've never lied to you

Back in January, I guessed that we were in the 8th inning of the stock market correction, and 4th inning of the credit crunch. I'm thinking that we might be in the 9th inning and 5th inning now, respectively.

UPDATE: The Subprime Wisdom of Megadeath:

Foreclosure of a dream
Those visions never seen
Until all is lost
Personal Holocaust
Foreclosure of a dream