FDIC seizes three more banks. Citibank has traded at around 45-50 as recently as mid-2007, today it closed at 3.77. So, it's lost over 90% of its value in a bit more than a year. Some analysts are predicting that all US financial institutions will be under government control in a year. Switzerland seems to be in danger of complete collapse, the way Iceland has -- it has banks that are so leveraged that the country doesn't have nearly enough resources to rescue it, in fact "A 16% fall in UBS's assets would wipe out not only all of its equity but 100% of Swiss GDP on top."
Sure wish I had a farm in some out of the way place that I could retreat to when the food riots start.