We are in the worst financial crisis since Depression, says IMF http://www.guardian.co.uk/business/2008/apr/10/useconomy.subprimecrisis?gusrc=rss&feed=politics Guardian, Wed, Apr 9 2008

"The US mortgage crisis has spiralled into "the largest financial shock since the Great Depression" and there is a one-in-four chance that it will cause a full-blown global recession, the International Monetary Fund warned yesterday.

As finance ministers and central bankers arrived in Washington to discuss ways of tackling the crisis, the IMF warned, in its twice-yearly World Economic Outlook, that governments might be forced to step in with more public bailouts of troubled banks and cash-strapped homeowners before the crisis was over."