Chris-
The one aspect of this whole situation that really bothers the heck out of me is the complete and utter lack of leadership from any of the world markets. The only market that has not been absolutely tied at the apron strings to the NYSE, until today’s action in Mexico, is the much maligned Shanghai Exchange.
The other markets have little to no exposure to “subprime” and yet they followed the lead of the NYSE like a pack of inbred poodles. When we needed someone, anyone, to stand up and say “Dumb Yanks”, no one had the cajones to do it.
