So, earlier this week, Standard & Poors got off their rather bruised behinds to announce that the worst of the credit crunch was over. You really would have thought that they would have learnt better from their fantastic record (See also "SIVs - a safe haven"!) since the "Credit Crunch" began. Sure enough, at 9am NY time today, Bear Stearns announced that it had severe liquidity & funding issues. Mmm yeah I guess the worst IS over! Bear has arranged emergency funding with the New York Fed, and JP...

Farstrider