With uncle sam stepping in to seize control of the markets; with mass decapitations at Fannie and Freddie, Lehman and Merrill and AIG; with once-proud Goldman and Morgan bowing to the new order of things, Wall Street seems trapped in a Reign of Terror. Add to the carnage the threats of tightening credit, more business failures, higher unemployment and a shriveling of consumer spending, the key driver in Americas GDP.rnSituation, desperate-but far from hopeless. In the following pages we detail the dark days that may still lie ahead, and the biggest tax bill we've ever seen. But we also offer practical advice about how to weather the worst, and what to invest in now.
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