Today’s Housing Bubble Post – Bad Day?

Will today be a really bad day for the stock market? (Or worse?) There are signs that the ripples from the housing bubble’s pop are starting to spread.
Bear Stearns Fund Collapse Sends Shockwave Through CDO Market,

Merrill Lynch & Co.’s threat to sell $800 million of mortgage securities seized from Bear Stearns Cos. hedge funds is sending shudders across Wall Street.
A sale would give banks, brokerages and investors the one thing they want to avoid: a real price on the bonds in the fund that could serve as a benchmark. The securities are known as collateralized debt obligations, which exceed $1 trillion and comprise the fastest-growing part of the bond market.

The REAL value of these instruments? Who knows? And who owns them?
Bondad has an explanation.
Here’s the thing – this is the money market. This is YOUR money-market fund. Find out if YOUR money-market funds are FDIC insured!