If these big financial firm behemoths can be brought low because of "rumor", then maybe we should regulate the schit out of them. These firms are handling Mom and Dads retirement money and you say because Trader Bob gets spooked and says "Watch out" that Mom and Dads money goes 'poof'? Give me a break. These firms shouldn't be defended, they should be torn down and rebuilt into something more solid that isn't so easily upset by the winds of gossip or Congressman writing letters.
I'm just an average schmuck on the street who readily admits I don't have 1/10 of the high finance knowlege that you do, but I don't think years of analysis is needed for my nose to be able to smell the stink that has been rolling in off of Wall Street lately. Hell, my nose was starting to smell the stink years ago when high dollar mortgages were being given to any fool with a pulse even though Greenspan and Co were telling us that the smell was rose petals. Those brillaint money guys are running our financial system and they really thought housing prices would go up forever?
Madness. The whole system had descended into madness. I'm not saying you're wrong and Mr Drane is right, or vice versa, but the truth is most likely somewhere in the middle and instead of this pissing contest how's about some common sense analysis of "where do we go from here"?