Minyanville's top dog, Todd Harrison, dares to ask in public what Wall Street types quietly consider in private. For more insight and ideas, visit www.Minyanville.com.

• I'd again like to highlight the tight correlation between the BKX and S&P Indexes. It's imperative that the banks hold, or the market will cascade lower.
  
  
• That Citigroup (NYSE:C) is closing its hedge fund is an embarrassment. I worked for Vikram Pandit at Mother Morgan (NYSE:MS) and he's a smart guy, evidenced by the fact that he sold his hedge fund to Citigroup for $800 million and the company dumped it 11 months later.
  
  
• Another black mark, Lehman Brothers (NYSE:LEH) CFO Erin Callan was getting rave reviews for her poise as recently as yesterday. This morning she was tossed into the volcano. It just goes to show you that, on Wall Street, you're only as good as your last trade.
  
  
• Finally, my brother suggested that the Lehman Brothers news is good for Goldman Sachs (NYSE:GS), which he knows I have a position in. At first I thought he was messing with me, as he does, but then he explained: "The Lehman business has to go somewhere." Given that I'm more concerned about the risk of contagion, I hadn't really thought about it like that. And while I'm happy to sell strength, I wanted to share that fare.
  
  R.P.