the wall street journal has a good blow by blow of a collapse of the US financial system narrowly avoided. it’s not likely that this crisis is over yet.
UPDATE: sorry, the WSJ is apparently a walled garden still. that link turned into a preview (i.e. useless to both you and the WSJ) after i posted it.
ADDITIONAL UPDATE: looks like crossing wall street has most of the article up as quotes.
this command in os x terminal should place the file(mine.html) in your home folder: curl -e ‘http://digg.com‘ -o ~/mine.html ‘http://online.wsj.com/article/SB120580966534444395.html?mod=MKTW‘