Today the Government injected billions of pounds into the seized-up banking sector, says Atticus. But will it do the trick and loosen up credit for individuals and businesses around the land?

At some point, the huge question of how all of this could happen, and who got us into this fine mess, will have to be answered. Gordon Brown may be showing leadership now, but what about his strong words when, as chancellor, he told us that Britain had seen the last of "boom and bust"?

He clearly got this completely wrong. But what system now provides the answers? The free market or interventionalism? Thatcher's deregulation and de-nationalisation program (continued by Blair and Brown) seemed to offer all the solutions, but now that seems that this sacred cow has been slaughtered too, as we (and the fat cats) turn back to governments for stability and support.

Whatever else happens, what seems clear is that it's going to be harder for individuals and small businesses to borrow from banks for a while yet.