This is what you get when you put a moron in the White House and he gives a big green light to unbridled greed; this is what you get when you choose a president for his supposed religious faith rather than for his intelligence and knowledge; this is what you get when you let know-nothing evangelical radicals obsessed with abortion and homosexuality run the country:
"It is now clear that we are again -- as we were in mid-March at the time of the Bear Stearns collapse -- an epsilon away from a generalized run on most of the shadow banking system, especially the other major independent broker dealers (Lehman, Merrill Lynch, Morgan Stanley, Goldman Sachs). If Lehman does not find a buyer over the weekend and the counterparties of Lehman withdraw their credit lines on Monday (as they all will in the absence of a deal) you will have not only a collapse of Lehman but also the beginning of a run on the other independent broker dealers (Merrill Lynch first but also in sequence Goldman Sachs and Morgan Stanley and possibly even those broker dealers that are part of a larger commercial bank, i.e. JP Morgan and Citigroup). Then this run would lead to a massive systemic meltdown of the financial system."
