They coincided with an IMF warning that the costs of the financial crisis are set to rocket to almost $1 trillion (£508bn) – higher than the Japanese banking collapse which caused a decade of stagnation.
Yes, and the Japanese losses were almost all inside the Japanese banking system. The current losses have been globalised.
As, umm, we were told the process of securitisation would in fact do it has done: shared and spread the risk.
Glory be, financial system works as advertised on the tin.