Today, the world's banks -- in an unprecedented emergency global move -- lowered interest rates by 1/2 percent.
Markets are still jittery, and only time will tell if this effort helps ease uncertainty and fear.
In the meantime, Opinio Juris has a stellar analysis of the global financial problem. What started as an American problem is now worldwide. It is a no-holes-barred look at how it started, where it is going, and what may be around the corner.
A must read.