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Fed Creates Commercial Paper-Buying Facility

Citigroup, Wells Fargo Halt Battle for Wachovia as Fed Steps In

Global Stocks: Should You Pull Out? (BusinessWeek - Ben Steverman)
Banking Crisis: The World Takes Fright (London Times - Patrick Hosking)
Emerging Markets Find They Aren’t Insulated From the Tumult (NYT - Alexei Barrionuevo)


Unfolding Worldwide Turmoil Could Reverse Years of Prosperity (Wash Post - David Cho, Binyamin Appelbaum)
Lessons From the Selloff - The selloff will help if it breaks down economic policy-making myths. (WSJ - Ed Bd)
The More a Gov't Does to Commit Taxpayer Funds to Shore Up Banks, the More Responsibility It Must Take to Run Those Institutions (Telegraph - Damian Reece)
We're Not Headed for a Depression - No, this isn't the crisis that kills global capitalism. (WSJ - Gary Becker)
Is This The End of 'Americanized Finance'? - Probably not, but it's time to rethink Basel 2. (Forbes - Roy Smith, Ingo Walter)
Now, Europe - As financial instability crosses the Atlantic, the need for policy coordination grows. (Wash Post - Ed Bd)
Europe Needs A United Approach To the Credit Crunch - National governments cannot stop the erosion of confidence on their own. (WSJ - Ulrich Volz)
 
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A Day (Gasp) Like Any Other (NYT - Joe Nocera)
Why This $700Bn Bailout May Not Be Enough (Daily Telegraph - Edmund Conway)
Doctors Must Stop Squabbling Over the Patient (London Times - Gerard Baker)
Can GM and Ford Scrape By? (BusinessWeek - David Welch)
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