So says, an AP article in the Seattle Post-Intelligencer.

That would be great news -- if the credit market had been frozen in the first place, which it wasn't.

First, we have false news about a credit crunch, based on false assumptions. Then, when the truth is realized (not discovered) we're told the non-existent problem is starting to be corrected. No doubt, post hoc ergo propter hoc, we'll be told that all the recent government intervention was the solution to the problem. And this will, of course, be used to justify further intervention. Naturally.