Certainly there is also a flight to safety issue underway because of the sheer looting that has taken place with our tax dollars vis a vis Fanny Mae and Freddy Mac.
What those organizations have done makes Enron look legitimate. We know Ken Lay's name, face, and watched him do the perp walk. How many people know the names, faces, and transgressions of the people (and elected politicians, yes, elected politicians) who mishandled this fiasco, yet have a high obligation to us as American taxpayers?
Given the meltdowna and loss of confidence, I expected a drop of at least several cents over the past few days into the teens, and I have not been disappointed. Though I have been sickened.
tps