Lo, a brighter crunch picture awaits! Whatever that is. We know it; we feel it…it’s coming. We are not carrying on. You clearly don’t have our keen grasp of the complex, interlocking financial mechanics at work here. When UBS sells $15 billion of mortgage assets to BlackRock and announces job cuts of 5,500 by mid-2009 (as detailed in the following piece) that’s merely the sweet remedying of a gangrenous one-off. This is the rise of the fall. Legends of the rise. It is almost upon us. The definitive (possible) near-ending of the end. You heard it here first.

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