wealthcc,I suspect you might be right. A lot of people think...

wealthcc,

I suspect you might be right. A lot of people think that this will bounce in a couple of days, but that could be the day we see loads of margin calls and panic really set in.

I am not sure the magical rate cut rally juice will spark optimism in this climate. I would hate to be Bernanke and Paulson at the moment - I think they ran out of ammo when they fired that bazooka.

Good luck all that own stocks - I think the next few days will be extremely rocky.

PS, BionicBoy, the US financial system as we know it is over. Professor Roubini from NYU has pretty much been the only economist to predict this outcome and he thinks GS is toast as well. From experience, if he says it is going to happen, it is probably going to happen:

http://www.rgemonitor.com/roubini-monitor/253598/the_demise_of_the_shadow_banking_system_and_of_the_broker_dealers_some_media_appearances