Aw, come on!

Are "recession fears" the reason the U.S. stock market is set to plunge yet again today?  Or rotten third-quarter earnings?

That's the official story.

Or is it because two bailouts totaling $120 billion might not be enough for AIG?

Or is it because it's now out in the open that the credit rating firms knew their inherent conflicts of interest skewed their ratings of mortgage-backed securities?  Or as Moody's CEO put it a year ago, "We drink the Kool-Aid?" 

Or is it because we now know the Fed has taken a $2.7 billion bath on Bear Stearns?

Or is it because banks are borrowing from the Fed at a record pace?

Might it be because, as the passionate and prolific Karl Denninger reckons, the Fed itself is now leveraged 40-to-1?

I don't know.  I'm just saying there's probably a wee bit more to the story than global fears of a recession or lousy Q3 earnings.

All of these reasons and more are why we're providing access to the Emergency Retirement Recovery webinar featuring Dan Amoss for a few more days than we'd planned.  The original broadcast on Tuesday drew so much interest it crashed our servers.  We've got that resolved now.  Sign up here for instant access.

The Daily Reckoning