They're suspending mark-to-market accounting rules throughout the banking system. There's already no trust; now that mark-to-fantasy is back in full force, does anyone think trust will improve?
US stock markets are considering a three-day shorting ban on any stock falling 20% in a day.
Hm. Stock market is liking something. I wonder if they have the news and it's good?
It's not Lehman:
Final Results of the Lehman Brothers Auction, Friday 10th October 2008That's bad. Will eta with URLs once verified.
Final Price: 8.625
eta: Verification. Multiple sources, actually. That's around US$365.5B that needs to come out of ... somebody. Well, a lot of somebodies. I'm hearing that a bunch of this was compromise-settled in advance but I don't know how that would work.