"Every day, it seems, investors hear stories about a 'credit crunch' that's squeezing pocketbooks around the country. What's it all about?" asks The Wall Street Journal. "The bad news started in the housing market, as a big runup in prices deflated and homeowners began to default on mortgages in record numbers. The squeeze is reaching beyond Wall Street to Main Street, hitting everything from the availability of student loans to credit-card interest rates to the prices of municipal bonds in retirees' portfolios. It's important to have a basic understanding of what's going on in order to keep your cool if things heat up more."

You can read the complete March 2, 2008 Wall Street Journal article on-line. A paid subscription may be required.