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Several television financial correspondents were announcing at the beginning of this week that Monday was the first anniversary of the credit squeeze. It is unclear whether any one day can claim that dubious distinction, but August 2007 was certainly a cruel month.

We take a look at where the Credit Crisis has been and where we may be headed next.

After two days in which trading was suspended on the basis of information about margin calls, shares in American Home Mortgage (AHM) were again put into active trading on Tuesday and immediately lost over 90 percent of their value.

Stock in the company had been trading around $36 as recently as February but had fallen to.