And this is all on a Sunday. I’m guessing a whole lot of brokers, traders, and Wall Street types will be at the office way early tomorrow. Or maybe they’re already there now.
DOW futures are down almost 3% as I write this and there should be a tsunami of selling tomorrow, driving down prices.
But let’s not forget there’s a human side here. Too many blameless people will get mangled by this ongoing financial train wreck..
One report said employees were walking out of Lehman today (Sunday) crying, angry, dazed, their jobs and retirement funds vaporized. Would it be that only the fat cats got singed when capitalism has a crisis. But that’s not what happens. Lehman employs janitors, cooks, secretaries, clerks, etc. too.
I’ve been making it a point to post on financial blogs (as well as here) when someone screams that what’s happening is socialism that, no it’s not, it’s plutocracy.
And a very scared government that sees a number of other train wrecks about to happen too.