Yesterday, the talking heads of the stock markets wanted us to believe the credit markets were fine.??And the Fed only gave passing notice to the trouble that has been brewing.

Today, the Bank of England made an loan of about $130BB to insure the orderly conduct of the money markets.? The last time they made such a loan was the day after the 9/11 attacks.

Stocks have opened 200 points lower amid the fear that once again the credit problems will spread.

Here is a link to the full commentary.? If you are reading this after August, 9,2007 you will need to go to the archive section at the bottom of WesCorp’s page.

cd :O)

-- By Chris Duncan

Posted in Economy