by Calculated Risk on 9/11/2008 09:44:00 AM

Lehman is off 40% in early trading.

From the WSJ: Lehman Struggles To Shore Up Confidence

As Lehman Brothers Holdings Inc. stock teetered in recent weeks, Chairman and Chief Executive Richard Fuld Jr. called Wall Street executives to make sure they were still trading with his embattled firm and offering it credit. Rumors about the firm's health kept popping up, he groused to other executives.

"I feel like I'm playing whack-a-mole every day," Mr. Fuld said, according to people familiar with the calls.

Probably more whack-a-mole today.

BTW, WaMu is off another 20%.