by Calculated Risk on 3/19/2008 07:06:00 PM

From the BBC: The crunch bites deeper in the US (hat tip TMB)

Kevin Logan of Dresdner Kleinwort, one of the less gloomy New York economists, summarises the state of play as the credit crunch has spread to different types of assets as follows: "We're all sub-prime now".

We all know Tanta wrote it first.