Wanted – Fear
Today will probably be one for the history books. Merrill Lynch – sold to Bank of America. Lehman Bros who were credited with being one of the more prudent and responsible investment banks (oxymoron?) died today and the US stock market is on track to make a new low for the year. There is blood in the streets, it is ugly and this is what they mean by wealth destruction. Some are already calling this a bottom before the day is closed. Merrill and Lehman paraphernalia are already fetching a premium on Ebay as if all the pain was behind us. I would agree, except for one thing.