answer:Mutual funds, yes, hedge funds, yes, insurance companies, yes, regional banks, hell yes, pension funds—yes. Today, 9/14/2008 will live in infamy. Today is the day that Credit as we once knew it died. The domino effect will continue, and we will cease to be a bastion of wealth and become equal to developing nations over time, today was the first step. I’ve been studying and blogging and watching this since 07/2005 and today is the day chickens have come home to roost. Look for home values to return to 1995 levels, and watch commercial real estate and its financing implode, massive vacancy in strip malls and shopping malls. The surburban model of living has collapsed. I suggest reading “The Long Emergency” by James Kunstler for a mind opening read. Frugality is now offically fashionable.