One thing I have noticed about the ups and downs of the economy over my lifetime is that whenever there are big losers, there are usually big winners.
Clearly the media, being what it is, is relishing reporting on the collapse of large financial institutions, the down-turn in the housing market, the failure of this and that, but there must be some winners out there from all this, and I'll wager that on the sly, some are either winning big right now, or will do when the dust has settled.
Off the top of my head, I can think of a few. The fall in house prices means that someone like me, who still has shitloads of equity in their property, can see my "next step up" property dropping by a lot more money that my own house. Good news. A 10% drop in the value of my house equates to a lot less than a 10% drop in value of a house worth twice as much. Also, people attempting to get onto the property ladder won't be complaining at house-prices falling.
Barclays scooped up some of the tastier bits of Lehman Brothers, and LloydsTSB have sneaked in and scooped up HBoS in a move that would certainly have been vetoed before the shit hit the fan. Same goes for Santander cherry-picking the tastier morsels of Bradford & Bingley.
Something tells me it's not all doom and gloom out there, and some of the finer and more informed economic brains on here must know of others?