Lawsuits will claim Product issues Exchanges didn't maintain FAIR and orderly markets Brokers violated suitability issues The overall construction and the dynamic nature of the overall portfolio was flawed Funds, RIAs and retirement trustees are going get pounded. Not an issue if I personally agree, but more a nature of the litigiousness of the US industry. Good volatility experts - if such things exist - are being offered as much as $1500 an hour by the plaintiff's counsel community. The FAIR and orderly markets issue was the core complaint in 1987. Go try and explain the product to a circuit court judge accompanied by a plaintiff that has lost 100% of their net worth. Read them the prospectus and see if they understand it. Investors can be ill-informed,stupid and greedy - yet they will still find plenty of attorneys to take their cases. It will take many months and even years, but their will be a mountain of litigation - justified or not. Everybody in the food chain is going to end up defending themselves.