by Eleanor Laise, Jennifer Levitz and Shefali Anand
On Monday night, after a day when stocks took their worst hit in years, Don Case bought a lottery ticket on his way home from work. Mr. Case, a 42-year-old data analyst in O'Fallon, Ill., is worried about the stability of the life-insurance policy he bought a few years ago from American International Group Inc., which reached a deal for a massive "bridge loan" from the government yesterday. He's also concerned about the state of his 401(k) retirement savings plan and his 529 college savings plan.
With a venerable institution like Lehman Brothers Holdings Inc. crumbling, "I'm sure all companies are vulnerable," he says. "If I win the lottery, I won't have to worry."
• The Panic of 2008? What Do We Name the Crisis?
As stocks swoon and financial titans teeter on the edge of insolvency, the market turmoil translates into emotional turmoil for many people. Some are experiencing sleepless nights and random bouts of crying, while others hope for a miraculous windfall.
Lucy Claroni, 59, assistant superintendent for curriculum and instruction in the Vidalia, Ga., schools, is concerned because all of the investment options in her retirement plan are provided by AIG. Though an accountant told her the funds would be secure, "I'm still nervous," Ms. Claroni says. "I have almost $90,000 in there, and I would hate for it to be lost."
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