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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Road Walker who wrote (478069)	5/5/2009 4:36:38 PM
From: i-node	Read Replies (1) \| Respond to of 1576180

The banks suddenly realized that most among them were insolvent, and no longer trusted each other. I've never heard of banks trusting each other anyway. You ever done importing? No. Imagine no more letters of credit. Imagine if BOA won't clear a check from Citi. I have frequently dealt with letters of credit and various instruments banks use. And while it would slow commerce, it would not be the end of the world disaster you're suggesting. In the first place, these kinds of problems take time to ripple through the system and in that time there are any number of options for dealing with them. I just think you're awfully excitable.