Merrill sold, Lehman is bankrupt, AIG protected by the Fed Reserve, Morgan chalking out a deal with CIC and Goldman not looking good either. What does it signify?
Nothing at all. 100s of thought leaders saw it coming. It is a traditional economic law which always hold true for all business.
Start -> Grow -> Boom -> Decline -> Bust
It is time for a new start. I can see 1000s of startups floating around the US and all around the globethat will stabalize the economy as they become multi billion dollar firms.
As far as the big 5 are concerned they have something to cheer about. B-Schools will use their current life story as case study for their students, many amongst whom will still commit the same basic mistake. 
I’ve always believed and preached that Management is not about getting things done, it not about looking at data and taking decisions, it is not about formulating strategy. This is academic bullshit.
Management is about taking a right decisions based on your gut feel and then ensuring that it continues to be right. As long as you can continue to ensure that it is right you are successful.
All the best K
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