If you had asked me two years ago what the economy would look like if Fannie Mae, Freddie Mac, AIG, Lehman Brothers, Bear Stearns, Merrill Lynch, Washington Mutual, and Wachovia had all disintegrated through implosion or fire sale, I would have likely said that the country would be reliving a great depression.
These are uncertain times, fear of a global meltdown is violently shaking investors of all shapes, sizes and asset classes. Unemployment is 6% today and possibly 8%+ within the next 12 months.
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