Options investors are paying twice this decade’s average to protect against losses in U.S. stocks through 2011, signaling the bear market that already wiped out $10.4 trillion of equity value may last two more years.

—Bloomberg

There’s a real panic in the markets, with some people wanting to buy long-term insurance at any price. People have lost hope.

—Peter Sorrentino, Huntington Asset Advisors Inc. in Cincinnati

Things are getting worse. The economy is still deteriorating and bad debts are still going to appear.

—Alex Crooke, portfolio manager at Henderson Global Investors in London