Vice Grip

Seems so long I've been waiting
Still don't know what for
There's no point escaping
I don't worry anymore
--Phil Collins

Allota terms bubblin' up from the market lexicon. CDOs, mark-to-model (# 3 here), subprime--many of them emanating from probs at the mighty Bear (1 & 2 here). Of course, Bear Stearns is just the tip of the iceberg. If this ocean of mismarked, illiquid derivatives comes for sale, we'll see fireworks that'll put pending July 4th exhibits to shame.