Elsewhere in the world, the United Arab Emirates Australia and New Zealand all moved to guarantee bank deposits.

FORBES: Market Scan

Also, on the other side of the world, the governments of Australia and New Zealand have announced a blanket guarantee of all bank deposits.

FORBES: British Banks Get Bailed Out Monday

An increasing number of central banks, such as the Bank of England, the European Central Bank and the Reserve Banks of Australia and New Zealand, now support the view that monetary policy should sometimes act to restrain a rapid increase in credit and asset prices.

ECONOMIST: Yesterday's financial architecture needs refurbishing