Wall Street ended another crappy and panic week with the meltdown of U.S. No.4 investment bank Lehman Brothers.

The endgame plays out for Lehman...it's somewhat expected, but still more than tragic. Everybody knows that Lehman, as one of the best bulge bracket firms, had a great reputation in fixed income and underwriting of mortgage-backed and other high risk-profile securities. Lehman's long-standing CEO Fulk was the ever-victorious veteran...building his firm into a global powerhouse.

Lehman's stock price retreated by more than 97% from its 52-week high, and it's still losing ground after the extended trading on Friday afternoon. We are all seeing it say farewell to the street and its shaky balance sheet is like an insult to its elegant history. Every single piece of Lehman's valuable assets is being split up and taken care of by predators like Barclays and BofA...while the troublesome MBS is thrown away at the price of several pennies per dollar...

Actually I don't quite understand that why people here always need to find a scapegoat to take the blame for others' fault...first Bear Stearns and now Lehman...who is the next?

Credit Default Swap of Merrill Lynch is widening Friday, shooting its record-high at 450-500 level. Merrill is the No.3 after Goldman and Morgan...and God knows whether it's too big to fall at the end of the day.

Tears and resumes are now everywhere...it all comes back to fighting against us survivors...

Fannie and Freddie are in conservatorship, and Lehman's probably gone over this weekend...maybe it sounds too weak to cross the fingers and pray, but I still believe that it will turn around and those who work hard will get their payback after the crisis is over.

以前很多次去Times Square都没有去关注Lehman的headquarter...今天晚上去看下吧 再照些pic...不然 以后 真的没有机会了~~~唉~~~

Lawrence J
New York City