Oh dear, a Wall St. regime change?

My boss has told us early this year that we are seeing a Street regime change stemming from the August 2007 debacle brought about by the subprime mess. 

And indeed we are.  Today, I cannot keep my eyes off the online Wall St. Journal.  Not 1, not 2 but 3 huge companies are either selling off assets, being taken over or is in the brink of bankruptcy. 

 It has been a week of seesawing sentiments.  After breathing a sigh of relief when Big Powerful Uncle Sam took over Fannie and Freddie, we are again waiting in bated breaths what Uncle Sam will do for another Wall St. giant –  Lehman Brothers.  Will it let it sink or will it save it yet again?  And yeah, the formerly called “ultimate NYC company” Merrill Lynch is bye-bye after being acquired by the Bank of America. Wow.  AIG, the biggest insurer is selling off its profitable assests just to keep afloat. 

With no Bear Stearns, Lehman and Merrill and the emergence of Bank of America, JP Morgan… Wall St. is changing its face.  Who is next? What is next?