[darthtrader]

Check out that paul van eeden video i posted below here.
From what I get it is a loss of confidence but I haven't really read what started it. The best I can put togather is the problem is that collateralized debt obligations have been valued mark to model, you have had billions dumping in to this stuff with probly highly correlated models being used to value what was even being bought instead of in an auction market. I would tend to think someone must have wanted to dump some but the price at auction was much lower than what the models said it should be. Now no one knows what the value is of what they are holding at auction and no one wants to be the one to light the fuse.