Lehman Brothers (LEH) crosses its fingers and hopes for the best.  (WSJ.com, DealBook, naked capitalism, ClusterStock.com, Bespoke Investment Group, DealScape, FT Alphaville, BusinessWeek.com)

Fannie Mae’s debt-holders are going to receive a windfall.”  (EconLog)

Bill Gross, investment genius.  (Market Movers, Infectious Greed)

Steve Jobs, technology genius.  (Executive Suite, Real Dan Lyons)

Today’s volatile environment is perfect for option plays.  (Daily Options Report)

The case for buying junk and REITs looks more enticing today than it did in 2006 or 2007.”  (Capital Spectator)

There is “no demand” for steel.  (NakedShorts)

Forced selling” is for amateurs.  (Howard Lindzon)

No two cycles are identical.  (TraderFeed)

“The only way to properly conceptualize risk premia is from a very long term perspective.”  (Commentary on Financial Markets)

Blog name confusion.  (Market Movers)

How economic news moves markets.  (Economist’s View)

“That is, according to the Intrade betting, we are likely to see a significant hike in the top income tax rate even if McCain is elected President.”  (Mankiw Blog)

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