JR on the market

The difference between this and a standard stock market crash is a lack of trusted information. In a stock market crash, like 1987, nobody questioned the underlying information about the firms behind the stock, rather, the question was what the price of that stock should be. In this crisis, information about the underlying assets is too uncertain and too complex to understand. FUD (fear, uncertainty, and doubt) abounds and nobody trusts anybody else anymore. That is a recipe for a global financial meltdown.”- John Robb