The Lehman share price is down about 40 percent relative to yesterday. No one believes in the rescue plan.
The collapse of Lehman is extraordinary. The shareprice has fallen 93 percent in 12 months. In terms of market capitalization, the bank is worth about $3 billion. A year ago, its market cap was over $41 billion.
What will stop the slide? Does anyone know the phone number over at the Fed?