I guess I could have been a little more specific.

After-hours trading left the DOW at -300 to start on before Monday morning even started. This is blowback from papa-Fed not saving Super Lee-man Bros.

Successfully backing up the previous issue of “Where do you stop lending”. I guess you stop with the fourth-biggest lend… well, wait… we’ve bailed out more than the top three lender… huh. …k.

As long as we aren’t playing favorites or anything.

Speaking of favorites. Let’s look at this outcome for a moment.

The two top lenders are placed in the federal orbit. Morgan is going to be absorbed by Bank of America at a fucking steal of a price. 70% cost, we’ll call it - and BoA gets a department that they didn’t already have – so it’s vertical ownership; which – if you’ll remember – is the most awesome type of ownership short of horizontal.

The big fish are getting bigger, and now it is unpredictable which fish will be spared.

I could be totally off. If I am totally off and the market does not take a painful dive – then:

1. We got awesomely lucky.
2. My next post will be bunnies.

Will it be the next depression? Come on. I’ve taught you better than that.

But today is going to be sort of an old-fashioned blood-letting.

WOLF BLITZER IN THE SITUATION ROOM IN 3 … 2 … 1 …

TAKE THE PALIN CHILD OUT OF YOUR MOUTH, WOLF – WE ARE ON AIR!

SHIT! SHIT! CUT TO CAFFERTY! CUT TO CAFFERTY!