Insert latest Lehman rumor here.  The latest news is that is does not look good.  (WSJ.com, NYTimes.com)

What might a Lehman Brothers (LEH) bankruptcy look like?  (DealBook)

“Why doesn’t someone just start a new company and coax as many of Lehman’s employees…as you can to jump ship?”  (The Stalwart)

Not enough regulation, or the wrong kind of regulation?  (Marginal Revolution)

“We should treat our financial system with the same measure of common-sense rules and oversight as we do our sports–or prepare to be on the hook for even more multi-billion dollar bailouts.”   (Forbes.com)

“The way people are paid on Wall Street encourages them to pursue immediate returns at the expense of longer-term stability.”  (CNNMoney.com)

Emerging markets have ‘reverted to type’ from their previous ‘safe haven’ status.  (Economist.com)

Oil and a war have added up to a nearly 50% haircut in the Russian stock market.  (NYTimes.com)

What asset classes have performed best during past economic downturns?   (Barrons.com)

Everyone is getting into the trading system backtesting business.  (TraderFeed)

Investors look up the value of their investments a great deal less during bear markets – the “ostrich effect.”  (WSJ.com)

Research shows combining value and momentum yields better results.  (NYTimes.com)

There is a “clear link” between macroeconomic volatility and stock market volatility.  (SSRN.com)

The output gap is growing.  (Econbrowser)

Quantifying the effect of the housing bust on U.S. GDP.  (Big Picture)

The first of many reviews of Thomas L. Friedman’s new book “Hot, Flat and Crowded.”  (WSJ.com)

Are you curious what other bloggers are saying about Abnormal Returns? So are we. Feel free to check out a compilation of reviews.