Time to save for rainy days?

The collapse of Lehman Brothers had shocked the financial market. In between of Korea and bankruptcy, Lehman chose to file for bankruptcy. They'd rather have thousands of ppl losing job rather than have the "yellow" owns the bank, because of dignity or egoism? Under the cloudy sky, who's the next to fall?

A dual currency contract is due today. With the intention of going into another one on the expiration of the old, the contract was put on hold due to the Lehman's news. I said to my banker, jokingly: "It's cloudy day, who know AIG might collapse tomorrow?" She said:" AIG is closing down." I was quite shocked when I heard this from her. All I know about is that AIG is in the urge of raising fund, yet to collapse. She didn't say more than that but merely said she'll keep me updated. She also said, casually: "If one day my ringtone becomes a "dooooo" sound then you know what's happened." Again, another whack on my face. Does it mean that my primary banker is also in a dangerous position? There seem to be some under cover bad news, the credit crunch seems to be more serious than we expected. Some good news released by the banks in the earlier period were bubbles yet to burst?

The Lehman Brother's news caused a bit of earthquarke in the markets globally though, it has positive impact on some other investment banks especially in Asia Pacific region. More deals are coming to them. To some ppl it's time to save for rainy days, holding "cash is king" principle; to some ppl, it's time to upfold their sleeve and preparing to enter the market since investments are cheap. What do you think? It goes back to the square as in how much reserve you have. That's how poor is getting poorer, the rich is getting richer under rainy days.