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[zedor]

IN the old days news of a brokerage saying they will take two weeks to advise what their customers loses are would have been met with heavy selling and upon the release of worse than expected news the market would have rallied -- sell the rumor buy the news. Today the Bear Stern case was the opposite. On news that two weeks would be needed to square accounts the market rallied then when the actual news came out -- today -- that it was all worthless the market is reacting. The days of ignoring fundamental crapy news is soon to be over. Reality is gonna be ugly.

[arbman]

Just ask yourself this question and nothing else:

Can the FCBs rescue them this time?

There is nothing more important, the news has always been bad, it is the reason the market has been going up...