[quote=Enorah]Wait. I thought I read that last week’s craziness was a result of the fall-out from Lehman Brothers and then the fall out from Wamu was supposed to be in 2 weeks time.

[/quote]

The first shoe to drop was when Lehman filed for bankruptcy, but the 21st is when their CDS settlements will be announced, and nobody yet knows just how big they will be. That is the problem, it could be a minor nuisance, or it could be a disaster, compounding the problem to such a degree that the entire system will simply collapse under the strain, resulting in catipulation. I wonder what Bernenke and Paulson have cooking to avert this disaster.