This is probably the most significant 24 hours in the global financial crisis of 2008. When Russia effectively buys Iceland, there’s a whole new face to politics and capitalism.
Brace yourselves folks. It’s going to be a rough ride.
UPDATE: Thanks to DailyTwitter for his link to the latest from the BBC on the UK’s rescue plan for banks. In some ways I wish the plan would go a lot further, making the banks themselves accountable for this crisis, and calling irresponsible speculators on the sharemarket – cream-skimming from the misfortune of others – to account. Somehow I doubt it’s going to happen though….