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<p>[QUOTE=&quot;V. Kurt Bellman, post: 2163693, member: 71723&quot;]2) What happened at the bottom of the &#039;08 crash was a &quot;liquidity freeze&quot;. Firms were damaged and expansions were postponed. Creditworthiness collapsed in large scale. Few firms were left that were both strong on ideas and creditworthy. The &quot;liquidity freeze&quot; meant that even those firms couldn&#039;t get financing. There wasn&#039;t enough equity on the super banks&#039; books to allow any more lending to anyone. In order for credit to flow, those banks had to be recapitalized. QE the first.</p><p><br /></p><p>More under 3). Can it wait till tomorrow? My eyes are losing focus. Good night, pp.[/QUOTE]</p><p><br /></p>

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