I know, strange topic normally, but not today.  I sat and thought about this last night.  It was a gorgeous night – about 68F and a warm breeze – after, as one blogger has put it, the swan song of summer.  So I caught part of a CW premiere for the new show “Privileged” as I was making the boys finish up homework and shower, get clothing ready for school and such.  As that show is over, I am torn – football, a book out on the screened porch – wait! CNBC is showing breaking news and is live.  This is not a channel that is live on Sunday nights.

I cannot believe I spent two hours watching CNBC on a Sunday night.  I am still not sure I have all the ramifications down but it is dire.  Of the five major investment banking firms that headquartered in the US, two are totally gone now or will be once the Lehman bankruptcy is done and one has been bought by a commercial bank.  That leaves two majors left.  The DOW Industrials is dropping, even prior to open today.  The NASDAQ and Standard and Poor’s indices are also lower. 

Some players say we have hit that level were the Federal Reserve will step in.  I say NO!  Stay your ground.  The Fed stepping in is a part of the problem.  The markets need to adjust to survive.  With the Fed being front and center with “helping” – as no one wants to see a failure, the markets are not being allowed to adjust. 

We all need to ride this out.  Any market is a LONG term investment with ups and downs.