The stock market appears to be finally realizing that the party is over, and no white knight will be riding in to save Lehman. The government will probably bail out Fannie and Freddie. Let’s hope they fire the management and take back the tens of millions they grabbed for themselves as they cratered the companies.
Yeah, I’ve got a bunch of puts on financials, and in a few weeks they probably be soaring in value. Would it be they were calls that were soaring instead.
Bumpy times coming, methinks.