Stories and rumors about the subprime contagion are flying around the net. If you hear a story or rumor, more than ever, check the facts and confirm the sources.
I just did this on an apocalyptic bank meltdown story supposedly out of Europe that a blog commenter mentioned. Googling the names involved produced just one hit, and that was from a seriously crackpot and fringe website. They are the apparent (and only) source for the story. The Financial Times, BBC, Independent, and Guardian had nothing on it, and if a major European bank was collapsing, it would certainly be news and impossible to conceal.
Thus, the story is bogus. In these financially tumultuous times, confirming the validity and source of a story is crucial.