Open Thread

October 10th, 2008 9:50 AM

For general discussion and debate. Possible talking point: irrational pessimism!

Markets are now back to where they were in March 2003, and close to their lowest levels in more than a decade. A gentleman on CNBC just called this "irrational pessimism."

Are we close to the bottom, or are prices irrelevant, and we're seeing a mad dash for cash?

Finally, does anyone want to talk credit default swaps and why this little-understood insurance derivative is largely the cause of this entire crisis?