There goes civilisation...

The first one was Bear Sterns.

If it's any consolation, the Fed refused to bail Lehman out. The markets are in turmoil because of it, but I support the decision, hopefully it'll scare everybody into behaving.

Bear Stearns, right. That's all it is, consolation, It's all just damage control from the first bail out until god knows when. Governments know they cant afford to make a habit of bail outs. Which is why this conglomeration of banks have come together to bail other institutions out if the need arises.

Lehmann brothers has been allowed to collapse as the lesser of the evils and look what chaos we're in. If Freddie, Fannie, or Bear were to collapse we'd be even more fucked.