Alice's bubble wrap

I haven't done one of these for about a week. The big story of the day is Lehman; will it survive until the weekend?

S&P: Lehman on CreditWatch with Negative Implications

"The CreditWatch listing stems from heightened uncertainty about Lehman's ability to raise additional capital, based on the precipitous decline in its share price in recent days," said Standard & Poor's credit analyst Scott Sprinzen. "Although the ratings ultimately could be affirmed, we do not currently rule out the possibility of lowering the ratings by more than one notch."

Lehman Goes Boom

The big picture posting a terrible picture - the Lehman share price.

The US Gets Riskier

The Financial Ninja on Lehman, Freddie and Fannie. "Bailouts are not for free" - indeed.

Q&A: Fannie Mae and Freddie Mac

This is how Aljazeera sees it.

Mean Street: Truth? You Can’t Handle the Fannie/Freddie Truth

No, I don't think I can handle the truth. It is all too frightening. I really wish someone would make it all go away.

Debt Deflation Turning Economic Democracy Into a Financial Oligarchy

"This seems to be the most sweeping government intervention into the financial markets in American history. If these two companies are nationalized, it will add $5.3 trillion dollars to the nation's balance sheet. So my first question is, why is the Treasury bailing out bondholders and other investors in their mortgage IOUs? What is the public interest in all this?"

Big Savings Available on Exclusive Spanish Homes in Mallorca

"The new El Puerto II development in sunny Mallorca can make the dream of owning a Spanish property a reality. Property savings of over £45,000 are available. "

Victor Sagué, Sales and Marketing Director said: "Despite the recent problems in the Spanish property market this area continuously attracts property buyers with its luxury facilities and superb location. Those thinking about buying abroad should definitely take advantage of this offer as soon as possible, as demand for these properties has caused a limited availability."

Go on; admit it, you love this stuff.

Oil price falls below $100 a barrel

It is back to where it was in January this year. I suppose this resolves the speculation versus supply contraints debate.

A falling pound means that the only way is up

You can always predict what Kaletsky of the Times is going to write. Everything is good until something bad happens. When it does, we are always over the worst. Falling pound; it is good. Freddie and Fannie are nationalized, even better.