Wall Street opens in half an hour or so...

...could be the scariest day on the markets since 1987 after the Lehman's chapter 11 and the sale of Merrill Lynch.

Tip of the iceberg ... reckon there's a shed load more C 11's in the pipeline.
The US prime mortgage situation still casts a serious shadow on the Seppos economy.
Add the cost of the Iraqi 'peace keeping' force and the black hole looms ever larger!

Nice welcome for the new administration in January!!

Greenspan should keep his mouth shut, so should Swann. Glad I got out of the market at the bottom. Mind you if Malcolm turns out to be the alternate PM tomorrow we might not take such a huge hit.

Happen to be working in Canary Wharf and the Lehmann Brothers Offices cast a dreary shadow...

Can't remember who it was but someone predicted that a major Wall Street player would fall but I don't think even he thought it would be this quick.

DJIA is down 3% early.


FTSE looks like closing down 5%.

I used to envy some of my friends who went in to investment bank IT jobs years ago. Few of them have been made redundant last month and another two moved on to different sector. Glad that it wasn't me.

The ones made redundant would've been given a hefty package and those having moved to different sectors would've made hay over the last 5-6 boom years.

Alex Loudon and James Bruce picked a good time to pack up cricket and go to the "City" !

Be some buying opportunities over the next few months.

Buy low. Sell high.

Most people do it the other way round.

If the FTSE dives much below 5000, fill yer boots if you've got the coin going spare.

Farkin blood-bath. Will be ugly today on the ASX.

Farking greedy farkin investment bankers. HTF do you fark an institution the size of Lehmann Borthers.

The scariest thing about this is that the rest of the world won't be badly affected.

Chinese century anyone?

The only good thing about the ASX crash from 6600 to probably 4400 in the next week is that we can get cheap units for a while.

Got my annual Super statement.

Management Fees for year - $5,600

Annual earnings - negative (yes, that's a big minus) $138,000.

When I rang the qunts to question what the fark they did to earn their farkin fees, their robotic response was "well you've had 5 very good years". Qunts.

I gave up reading super statements years ago, it saves a fortune in depression medicine.

Indeed qmy. Just have to suck it up and wait for the "good" cycle.

Still sh!ts me that these qunts with billions of dollars under their control (whether it be investment banks or Super funds) can be so farkin cavalier to let this happen.

Did I mention "qunts"?

You did mention qunts. To think you're retirement is in the hands of 20somethings with less business nous than a milk bar operator.

Actually that's unfair milk bar operators actually have to work for a living.