No.
I claimed that a large part of the crisis nature of the problem was fabricated. The numbers are what they are.
In another example of panic, Fannie Mae plunged after a report came out by Lehman Brothers, speculating on a POSSIBLE rule change on balance sheets, setting off a run on the market. More here.
Pure panic.
Lehman Brothers got caught in the backwash, and their own stock is in trouble.
In banking, all it takes is someone to shout "Fire!" in the crowded theater. And even if there IS a fire, a rational person might see that screaming about it from the stage and sending a thousand people trampling each other for the exit may not be the best move.