"Once In A Lifetime" Moves?

The action in many Financial stocks over the last couple of days has been truly amazing.  In the table at right, we highlight the percentage change from the close last Thursday to the lows yesterday, along with the change from the lows yesterday to current price levels.  While Bear Stearns is in a world of its own, big names like LEH, MS, MER, GS and C saw declines of 15% to 50%, only to be followed with gains of 20% to 100%.  Yesterday, Lehman traded from $34 down to $20 and back up to $34 in a couple of hours.  That's billions and billions of dollars wiped out and then suddenly found again.  It usually takes 5 to 10 years for these stocks to move this far down and this far up again.  In the current market environment, it takes less than 24 hours.