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Comment by TABS on Tuesday, Sep 16 at 04:16 AM

The world is on the knifes edge. A nuclear winter scenario for the Global economy is not out of the question. For all the kings horses and all the kings men could not put the economy together again.----------------- What oblivious arrogance Mr Thain of Merill Lynch showed when he said, "That in his 30 years of doing business he had never seen a market like this." That statement shows the limited range of his thinking, in that all he had to do was read a little history to know what can go wrong will go wrong. This hubris comes out of a man who has no conception that disaster can lurk around any corner, for all he has known are times of prosperity and not real adversity. Now that the financial business has hit the iceberg we are going to see what these men are made of. Unfortunately to this point all they have done is lead the world to the precipice of financial disaster.

Today with the failure of Lehman and the purchase of Merill, the world has crossed the Rubicon. The world is now in the fire. The very world that we knew on Sunday is now a memory. There is nothing left to do but go forward as best as one can.