At least someone in finance is living in the real world. Not that Bernanke and Wall Street really care about the problems facing most people, but hopefully someone is listening.
The credit crunch is continuing and it is not evident that the worst is over, the head of the European Central Bank has told the BBC.
Jean-Claude Trichet said we were seeing "an ongoing, very serious market correction," during an interview with the BBC business editor Robert Peston.
He warned that if central banks were tempted to cut interest rates now, more serious problems could follow.
