Panic in the StreetI hope people wont be fooled into thinking the world is about to explode because some of the banks are taking a well deserved hit. They were warned that they needed to clean their avct up and get a matching policy in place to prevent these kind of things. Reserves were supposed to be set by BIS rules, but were allowed to be lax because the baks balked at obeying them. This is a governance problem not a financial one. It will pass, but before that we are in for a bumpy ride.