So you think everything is "under control"?

Banks borrow record $437.5 billion per day from Fed

17 Oct 2008 Financial institutions ran to their lender of last resort for record amounts of cash in the latest week, Federal Reserve data showed on Thursday. Banks and dealers' overall direct borrowings from the Fed averaged a record $437.53 billion per day in the week ended October 15, topping the previous week's $420.16 billion per day.
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Er..MM..Just how long do you think this can keep on going until the bottom falls out?

Karl Marx and the world financial crisis: Bernd Debusmann
Wed Oct 15, 2008 4:57pm EDT

WASHINGTON (Reuters) - Capitalism as we used to know it is on its deathbed. And those who predicted that the old brand, the unfettered, American-promoted system, was a danger to the world, are being vindicated. They include Karl Marx, whose thinking on banks seems oddly contemporary these days.

The credit crisis that began in August last year and turned into near-catastrophe this month is not over, despite the hundreds of billions of dollars that governments are spending to save banks in the United States and Europe from collapse and thereby prevent a global depression. But there is an emerging consensus that capitalism needs a 21st century overhaul, not just emergency rescues, to save it from itself.

When that will happen is not clear. "What we are seeing right now looks like a very slow train wreck," says James Boughton, the historian of the International Monetary Fund, or IMF.