Fill in anything you like: Lehman, Merrill, financial system, everyone…

Who will be the next? AIG? WaMu? Will Paulson & Co. keep cherry picking whom to rescue and whom to dump? Will Goldman and Morgan rule the world, or will they be sold to a consortium of sovereign wealth funds like ADIC, CIC, GIC, and the like?

I hope Roger Lowenstein is still around to write a book about 2008, the Judgment Year.

Lehman’s employees hold about 1/3 of its stock, therefore many lives will be totally crushed, unlike people in Bear and Merrill, who at least got their stocks in the dollars. They’ve had super overpaid years for sure, but no hard working people deserves this.