How do you put a price on financial products which no one wants to buy? In brief, this is the problem. Very many large financial institutions no longer know what they are worth. The product is corrupt and nobody trusts each other. It’s a very nasty mixture of previous greed, current worry, possible panic, caused by a lack of effective regulation (editing Clearly, many efforts are being made to regain control of the financial system, but, we are in the realms of group psychology now. Let us hope a rational leader can be found – and then be successful.
Alex Brummer in The Daily Mail