Prieur Perspective: The Ides of March

'Concerns grew that the Federal Reserve may not be able to prevent the credit slump from worsening and that contagion was spreading into the safest pockets of the U.S. credit universe, leading to further large-scale write-downs but this time of ‘good’ paper. Are the financial problems so vast that we are now in an era of ‘too big to bail’?'