We’re still waiting for ‘the big one’

LONDON (MarketWatch) — This week’s global stock plunges have been sharp and
severe, but they’re not “the one.”

As U.S. Treasury Secretary Hank Paulson must have been praying, the markets have
withstood the collapse of Lehman Brothers (LEH) and the forced sale of Merrill
Lynch (MER), at least for now.

Yes, American International Group Inc. (AIG) is tottering, and plenty more
dominos could fall.

But, every crisis offers opportunity. And as Bank of America’s (BAC) Ken Lewis
and the folks at Barclays (BCS) are showing, one man’s fire sale is another man’s
buying opportunity. See Barclays in talks to buy Lehman’s core U.S. businesses.

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