Your assets become illiquid and your bankers close their fists exactly when you need liquidity most urgently. Why that? In the book we treat several mechanisms behind bubbles and busts: beliefs about others´ beliefs (Chapter 8), panics and runs (Chapter 9) as well as information cascades (Chapter 10).

The dry-up of market liquidity is modeled in an exciting recent paper:
Brunnermeier, Markus K. and Pedersen, Lasse Heje: ``Market Liquidity and Funding Liquidity´´ (February 2007); NBER Working Paper No. W12939, see abstract.