Reality is intruding so I'll just do a quick link dump of some of the stuff Yves Smith had up when I walked in this morning.
Wolfgang Munchau: Less Than 10% Through the Credit Crisis
Goldman's Proportion of Level 3 Assets Exceeds Merrill's, Citi's
Yen Rises Above 110 as Carry Trades Unwind
Yet More Doubts About the SIV Rescue Plan
Back in a bit, get comfortable, get naked,