Only Down 300?

The DOW is only down 288 points as I (begin to) write this. And why not? The government did the best thing they could. Here's an interesting rundown of the Lehman bagholders from Marketwatch. What caught my eye is that Lehman lists only $613 in debts against $639 in assets. How can a firm go bankrupt with more assets than debts? $26 billion more? A cushion of more than 4%?

I can't wait to see what those assets get bought for when Lehman is liquidated. Then it will get very interesting. I think I'm going to close out my BCS and C shorts today, and possibly my SKF as well. The government did the best they could, and they may chase the shorts out this week with a rate cut or some other shenanigans. However, when Lehman is liquidated, there will be a lot of prices for the investment banks to mark stuff to market. If I short anything else, it will be QQQQ, on the belief that as the banking crisis spreads, tech spending will plunge.