Are you scared yet? I'm looking at the news of the Bear Stearns (BSC) bailout - now takeover - and it makes me sick. I know I wrote about this very topic Friday, but this is a huge news event and you need to know what's going on. You need to know the truth.

This morning the Dow Futures were trading Is it worth investing in Singapore Treasury Bills (T-Bills) in 2022? down more than 200 points, and as I write this, we are off more than 140. The Japanese Nikkei lost more than 3.7%. The London FTSE is down 2.5%. It's the same news around the world. The global markets are in turmoil because of Bear Stearns.

Bear Stearns was once worth more than $150 per share but is now worth $2 . . . and that's being generous. Bear had a run on its prime brokerage business. That part of the business holds the accounts of hundreds of hedge funds - worth billions of dollars. It started off slowly with one hedge fund withdrawing their money then another. Quickly it accelerated to the point that withdrawal demands swamped the firm and Bear Stearns collapsed.