We've got a Wachovia down

[rose-colored-coolaid]

Speculation that appears to have come to fruition.

Things seem to be failing at a pretty quick rate now. Last summer was a couple hedge funds, then Bear Sterns in the winter, then some smaller institutions. But since August we've seen Indy Mac, Freddy and Fannie, WAMU, Wachovia, Lehman Bros, AIG...and probably some other biggies I can't remember.

Anyone still believe the subprime problem is contained?

Also, who's next? It's good to know what's coming.

[Charles Dean]

Just like the depression, we're just having old fashioned runs on the banks. Once one fails, everyone starts asking what the next one is. The rumors start, then it happens.

[rose-colored-coolaid]

[Charles Dean]

I totally agree with you. Thus again one of the problems with the deregulation and allowing corporations to get so enormous.