We face extreme danger. Unless there is immediate intervention on every front by all the major powers acting in concert, we risk a disintegration of global finance within days. Nobody will be spared, unless they own gold bars.
By Ambrose Evans-Pritchard Last Updated: 11:05AM BST 06 Oct 2008
Investors will learn today whether the Paulson bail-out - fattened to $850bn (£480bn) by Congress - can begin to halt the death spiral in the credit system. So far, the response looks terrible.
Germany is now in the hot seat. The collapse of a rescue deal for Hypo Real Estate on Saturday threatens a €400bn (£311bn) bankruptcy that nearly matches the Lehman Brothers debacle for sheer scale.
A bit of hysteria from Ambrose Evan-Pritchard in the London Telegraph. Will today be black monday? Peacenik is feeling optimistic and thinks it's time for some good economic news. When Peacnenik finds some it will get posted.
