Bear Stearns lost 90% of its' stock value in one week
One expert floated a number of 11 Trillion dollars before this whole sub-prime mess is cleared up. That is likely too high, but the US taxpayer is probably going to be on the hook for something.
J.P. Morgan borrowed $30 billion on Sunday directly from the Federal Reserve in order to complete this transaction. Supposedly it is the first time this sort of loan has happened since the 1930's.
First the dot-com bubble, then the housing bubble, what bubble is coming next? The Federal Reserve keeping interest rates low for so long in order to pump up the economy is causing serious hangovers when things go bad.
This is going to be one of those weeks when I do not look at my investments. If I do I will make sure I stay away from the liquor cabinet. Very depressing.