Haw.

That's how they do thing in Europe.

Of course, in the United States, things are different:

SEC Loosens Accounting Rule Banks Blame for Crisis

The standard, also known as "mark to market," has led portfolios to plunge in recent months as banks affixed fire sale prices to their assets, a move that sometimes required them to raise still more capital to meet regulatory requirements. The measure also led to clashes between corporate executives and independent auditors over how low the markdowns should be forced to dip.

The assertion I've seen fairly often in the last week or so is that the credit markets are shutting down - businesses can't get the credit they need to operate.

Now I run a business, so I understand in my own small way the need for credit. We have a loan outstanding, a credit line, credit cards, and even a home equity line of credit (with no balance).

Nobody's called us up or sent us a letter saying "We're calling your business loan" (they can't, anyway - in fact it has a pre-payment penalty), or "We're canceling all your credit lines" or "Please throw your credit cards away." I'm half tempted to draw a few hundred thousand in credit just to prove to myself it's possible, because I'm sure it is.