A recasting of the American Financial System? What Next?

On Sep 11, Treasury officials declined to rescue Lehman Brothers. In the following weeks financial institution stocks plummeted at a mind numbing pace, which accompanied soaring credit default swaps and massive shorting. AIG Collapsed triggered a government seizure for 85 Billion of taxpayer money. Panic spread to Morgan Stanley and Goldman Sachs, Washing Mutual went belly up and other financial institutions in Asia an Europe collapsed, what next? Looks like tough, tough days are ahead. Keep the helmet fastened, head down and don't put your head up until the shelling stops could be tough sledding for some time..