We sift through some of the most-discussed books on the subprime crisis: Robert Shiller's The Subprime Solution, Niall Ferguson's The Ascent of Money and Michael Lewis's The Big Short.
The current crisis has more than a few similarities with the Asian financial crisis when it comes to causes and symptoms, and just like 10 years ago in Asia, the post-bubble adjustment in the developed world will take time.
Two of Ernst & Young's top executives say that when the markets re-open, financial instruments will become more complex and will require stronger regulation.
Richard Koo, chief economist at the Nomura Research Institute in Tokyo, discusses the grim parallels between the US and Japan, including the need for unconditional capital injections.
China Investment Corporation helps Morgan Stanley to stem its losses with a $5 billion capital infusion. Meanwhile, CEO John Mack agrees to forego his 2007 bonus.