How bad is it getting as the global financial system takes another big hit as Lehman Brothers tank?

The reasonably optimistic case for the US economy is here.

And the sprawling mess of Fannie Mae and Freddie Mac is scarcely a crisis of private enterprise – rather a result of the unhealthy relationships which had developed between these organisations and Big Government.

Look at the politicians they supported financially.

Some, hem, familiar names towards the top of the list?

All that said, my pitiful holding of equities has taken a dive.

Eeek.

At times like this, the basics come back in fashion:  "don’t lend people money who can’t pay it back."