Credit Crisis Continues...

Still working on my story about the credit crisis. What I thought might be a story with a short shelve life has turned into a massive debacle that I need to research like crazy.

To recap: Subprime crisis hits, massive defaults on housing, slowing of home buying in US, slowing of home construction market in US, banks unwilling to reveal how much bad debt they were carrying, some US finance/mortgage/construction companies collapse and now...

• There has been a run on a major UK bank, Northern Rock.
• The loonie has hit a 30 year high prompting fears of a collapse in Canada's manufacturing and forestry sectors.
• Oil has hit an all-time, real-dollar high prompting fears of hyper-inflation in the US.
• US figures show problems in employment, retail sales and industrial output.
• And Global investment banks are out 10% of their holdings or roughly $30 Billion.