Bluematter.

Facts about the financial crisis:

1. Interbank borrowing and lending rates have risen to unprecedented levels relative to U.S. Treasury Bills.
2. Several major financial institutions have failed.

Myths about the financial crisis:

1. Bank lending to nonfinancial corporations and individuals has declined sharply.
2. Interbank lending is essentially nonexistent.
3. Commercial paper issuance by nonfinancial corporations has declined sharply and rates have risen to unprecedented levels.
4. Banks play a large role in channeling funds from savers to borrowers.

All four debunked in 2 pages of text and a collection of graphs. Required reading, ht Alex Tabarrok.