Two Days in the Credit Crisis

I knew this wasn't just a manifestation of typical volatility when the yield on T-bills went negative. That means that I could theoretically borrow off my HELOC and lend it to Morgan Stanley overnight and make money!!! (okay, that is a slight exaggeration, but - sadly - not by much)

Here is some great, in-depth reporting from the NY Times. If you read one article today, I humbly suggest it should be this one.