[tony404]

its amazing how fear makes it all so much worse. People get the shit scared out of them watching the news. Even though they are working and in a relative safe place. Employers start laying off as a precaution and because business is starting to drop because gainfully employed people are now afraid to spend money. It all becomes a self for fulling prophecy.
Wachovia had to be sold not because of the bad loans.I read it was because the stock dropped and there was a silent run on the bank. People had already seen multiple bank failures and it was business as usual but the news scares them so they do these things that add fuel to the fire.