The credit fallout continues

The CEO of Wachovia just resigned. More as I learn more; it just came across BBC News, which, well, doesn't really care. First thought however is that this is actually sort of beautiful to watch, not because I have anything against Ken Thomson, but because the market is working without anyone but the participants ordering it to correct itself.

This article available online at:

http://www.theatlantic.com/business/archive/2008/06/the-credit-fallout-continues/3584/