Quote of the day (so far) goes to S&P in its new report downgrading Lehman’s (and Goldman’s) credit rating.
S&P said Lehman has a stable base of funding and strong fundamentals, but "could suffer severely if there was an adverse change in market perceptions, however ill-founded."
Right. Like, for example, if there was a new S&P credit downgrade report warning investors that things at Lehman could get bad if there was a change in market perceptions? I get it.
[S&P via Reuters]