Lehman

let's pretend that you have a million pounds in your bank account. Now then a friend comes to you with a sure fire money maker, you'll be able to double your money with no risk to your capital.

He says lend me the million, and I'll give you back 2 million in a years time.

You ask him how are you going to do this, what is your business plan. He explains it to and it is such a good idea that you say I won't lend you the money, I'll do it myself. Why, because if you can make 3 million with my money and give me back 2 then I will make the 3 million and keep it to myself.

I think the above would tell you why the banks are no longer lending to each other, why on earth would anybody lend money, that is lose control of it, so that somebody else can make money. I mean get real, the system is bust, it was when Lehmans went that the world changed, it was not realised at the time but you now have 9/15 to go with 9/11. Two days that have changed the world.