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What's amazing is that the DOW hasn't reacted to this at all.

300 points is NOTHING in the face of the total failure of banking in the United States.

This means people are NOT calling and pulling their investments out of Goldman Sachs, Morgan Stanley and Merrill Lynch (if they pulled out of ML, safe to say that BoA would reconsider). I'm also hearing that people on Wall Street expect the financial firms to be reconstituted as largely independently running firms with their current headquarters remaining in place.

I am more panicked than the people on Wall Street, in other words.

So, what are we missing on this thread?

by Upstate NY on Mon Sep 15th, 2008 at 02:37:57 PM EST

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