I am a little surprised no one has mentioned this. But, Is Pyro-terrorism bullish or bearish? Or, maybe, subprime holders have taken a different approach to servicing the debt? What a fk'd up way to throw the economy into a recession. It will be interesting to see how this story unfolds. And there are many in Washington who are calling for the "need" of a recession, so, it makes me wonder. Also, what damage will this do to credit markets; assuming the Fed "DOES NOT" cut, or cut enough. Of course, the story could be spun many different ways for the market to drop or rise. Although, since the recent highs, declines have been on stronger volume than the rallies. Suggesting that the shorts have been more aggressive than the longs. With housing by all accounts already in recession, and these fires, what's next to fall? There's a lot of fear out there.