Paddy Power PLC says it is so sure Barack Obama will win the U.S. presidential election next month that it paid off Thursday on all bets it had taken backing the Democratic candidate. It said it shelled out more than euro1 million, about $1.35 million.

Well they think it's over, and are paying the money.

Irish bookie calls US race over, pays off on Obama - Yahoo! News

The nation mourns.

Bullwinkle Assassinated!

Sorry I don't know how to link dynamic picture detail so you'll have to follow the link, but Obama 313, McCain 158, Toss-up 67 is a big ol' can of electoral whup-ass.

RealClearPolitics - Electoral Map

In Massachusetts, a housewife who had hidden her family's mounting financial crisis from her husband sends a note to the mortgage company warning: "By the time you foreclose on my house, I'll be dead."

Then Carlene Balderrama shot herself to death, leaving an insurance policy and a suicide note on a table.

This has now left all sense of decency. Businesses and banks, especially banks, know exactly what is going on, and in many cases contributed to the disaster our economy has turned into. The "almighty dollar" isn't good enough. Instead of working against people, they need to be working with them, and for any banker who doesn't understand this one, dead people don't pay bills.

Suicides from financial crisis cause concern - Yahoo! News

In pressing the bank executives to accept partial government ownership, Paulson's message was clear: Though officially the program was voluntary, the banks had little choice in the matter. In exchange for giving the Treasury minority stakes, the nine firms would jointly receive an investment worth $125 billion. The government would make another $125 billion available for the next 30 days to thousands of other banks and thrifts across the country. null

This is potentially good, but also potentially dangerous. The government stake is good, in that it can be used to block banks from doing things that are insane (credit default swaps anyone?). The government stake is dangerous in the sense that it may now be in a position to force banks to do incredibly stupid things (credit default swaps or massive sub-prime secondary loans?). The next step is still anyone's game.

U.S. Forces Nine Major Banks To Accept Partial Nationalization - washingtonpost.com

So the final results from the Lehman Brothers CDS auction are in, and they're even uglier than expected. Finally price is 8.625 cents on the dollar.

Things are even worse than expected...

Lehman CDS Wipeout

The ongoing financial meltdown is just the latest example of a disturbing trend that, to this adoptive American, threatens to put the Land of the Free and Home of the Brave on a par with Zimbabwe, Venezuela, and Equatorial Guinea.

Ouch. No sparing the rod in this piece.

America the Banana Republic: Politics & Power: vanityfair.com

It has not been a good time on Wall Street, and now it's gotten even lower

The photo trifecta.... check it out.

Gothamist: Wall Street Really Needs Relief

No longer just a civil matter to blithely ignore, this ominous development could result in current and high level officials being indicted for crimes. I suspect the special counsel will "follow the emails" in the way that "follow the money" brought down Nixon's men during Watergate.

I'd like to know what Iglesias thinks about the potential for RICO charges coming out of all this.

David C. Iglesias: Dangerous New Turn in Justice Department Investigation

"Investors are just saying, get me out at any price."

That sentence is literally, the start of the run. What happens next is anyone's guess, but here are my guesses for the next week.

Friday the 10th - 300 point rally as some people decide to get back in, and think they're seeing bargains.
Monday - Another 5-600 point nosedive as people have the weekend to find out how horribly they're still exposed.
Tuesday - The DOW dips below 8000, but finishes above for the day.
Wednesday - Panic.

Dow plunges 679 to fall to lowest level in 5 years: Financial News - Yahoo! Finance