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It's Been a Long, Strange Credit Trip

A reminder of how uncertain the outlook is for the future of the credit crunch, with CNBC's Steve Liesman.

"The Federal Reserve just this morning, announced it's extending and expanding emergency lending facilities to financial institutions -- to Wall Street and the banks, into January '09, saying financial markets remain "fragile." A year ago, only a few people had any idea how bad it would get or how long it would last."

--Steve Liesman, CNBC Senior Economics Reporter

For the full report, watch the video.

Banks

  • Richard Kovacevich in 2007.

    There were only 20 banks that caused the crisis, and "they're all gone," former Wells Fargo CEO Dick Kovacevich told CNBC.

  • How much the banking industry has changed since the collapse of Lehman Brothers, with Richard Kovacevich, Wells Fargo former chairman and CEO.

  • How much of a game changer is Apple Pay? Max Wolff, Manhattan Venture Partners chief economist, and Hans Morris NYCA, discuss the mobile pay ecosystem and why Apple Pay will succeed where others failed.