I don't have much to add to what I said before - except to say that many more dominoes are yet to fall, and that all governments should stop assuming that pouring more water into a bucket with a hole is going to give you anything other than wet feet.
Some good things have come of this. For example, the death of the simple-minded worship of The Markets. Nowadays, believing that unregulated Market Forces should alone decide what is Good is akin to believing in the literal truth of Norse Mythology. Especially in Iceland.
There have also been some rather excellent jokes :-
- The Isle of Dogs Building Society has collapsed. They've called in the retrievers. Meanwhile, in Japan, The Origami Bank have folded.
- What's the difference between Investment Bankers and London Pigeons? The Pigeons are still capable of making deposits on new BMWs
- Quote of the day (from a trader): "This is worse than a divorce. I've lost half my net worth and I still have a wife."