In fact, it's just beginning.
Those of us who have been around a while may remember Bonddad and New Deal Democrat. They started their own blog a while ago, and are now live-blogging the financial sector's reaction to the possible default. So far, we have this dire note:
Marketwatch at 8:01 CDT:"[C]learing banks are unwilling to finance paper that matures by the end of year, causing a fairly chaotic environment," said Thomas di Galoma, co-head of fixed-income rates trading at ED&F Man Capital Markets, in a note.What does this mean? Follow me over the Orange FSM.....