it's hard to call a bottom when the current selling is motivated by the need to deleverage and raise liquidity.
banks aren't lending to anyone.
companies can't get other short-term financing like commercial paper, because the largest commercial paper dealer (lehman) blew up.
on the flip side, investors in money market funds are liquidating their commercial paper holdings. because they're afraid they're not gonna get their money back.
so, if you need to raise cash in a jiffy ... where are ya gonna do it?
da stock mahket !
look out below!
