Some have given the explanation that the crises will go on until the consumer recovers or stop being exhausted as John Fitzsimons of American Securities said:
I think the [current market conditions] are going to be a long process, and I don't think it gets better until the consumer stops being exhausted,I have an alternate theory to explain the "credit crises".
May be things are just getting back to normal lending practices; only those who deserve the credit get it. People and businesses alike got accustomed to easy and cheap money to buy, finance and do deals, so any thing other than that environment will feel as a crises.
I think the US got used to spending with no control and it is catching up to them; this will take some time to adjust to. But it will work it self through the system with time. Strict lending standards should be the norm and a "crises". Banks should be lend to those who will be able to pay it back with satisfactory return.
So may be this is the new environment that we should operated in and just stop calling it a "crises".