the big elephant in the room are credit default swaps thst all these firms sold each other. It was private insurance, some are even classifying them as naked shorts in effect if not in name. They were off the books, and they have all long since kicked in big time. No wonder the credit markets have locked up - they all owe each other more money than they have. The commercial credit paper market machine just went TILT.
You beat me by THAT much...