Financial crisis – an historic day for all the wrong reasons

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….

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