Cable has slipped to 1.8355 at writing, but trading so far has been relatively orderly. Elsewhere The Times reports that U.K.’s leading 5 high street banks have as much as £95.3 bln ($175 bln) of distressed assets on their books that may qualify for the American bailout scheme. If the banks tapped the fund to the maximum they could soak up a quarter of the $700 bln available. Ummmm, sure that would go down well with the average U.S. taxpayer!!!!!