Normally the release of the Federal Reserve's Beige Book alone would give Wall Street plenty of material to obsess over, but on Wednesday there was the added element of a slew of scheduled comments by central bank officials.
The new market was rebuilt using as much of the original material as possible, with the addition of a new perimeter wall which saw local tradesmen employed to create ornamental details.
Moreover, I believe that many Wall Street firms saw the meltdown coming and dumped inventory on an unsuspecting public through material misrepresentation.