Well, good timing on my "the feces begins to hit the oscillator" call the other day. Freaking Bear Freaking Sterns teetering on the edge of collapse. Boys and girls, this is not as if K-Mart (finally) went under, this is Freaking Bear Freaking Sterns!
Remember folks- bankruptcy and/or collapse have nothing to do with your net assets, your wealth or God knows your credit score. It's all about having the cash on hand to pay what needs to be paid. As we speak, the major financial institutions of the world (but especially the US) have run out of oxygen and are holding their breaths, hoping to God that the other guys pass out first.
It continues to get ugly.
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