I was going to write about my new favorite show, Fringe, which is quickly becoming my new 24, but events of the past week take precedence. So I will save that post for another day.
In all my days, I have never seen anything like what's been going on in the financial markets this week. It is utterly astonishing and interestingly (if that's the right word), communications, my chosen profession, appears to be playing a large role in what's occurring. What I mean by this is that "bad news' -- or even the rumor of bad news -- is spreading like wildfire, and is becoming almost a self-fulfilling prophesy. And sadly, the weight of the market appears to be stronger than the weight of the message and there's not much that these companies (Lehman, Morgan, AIG, WaMu, et al) can do for say from a communication perspective to provide counterbalance to the utter fear that's currently running rampant. I only hope for all of our sake that calmer heads ultimately prevail before there's more carnage (Morgan Stanley, Goldman Sachs). Tomorrow will be interesting to say the least.
Here's hoping to a rally.