MS and GS will short / put the crap out of it on the way down. They probably spent half the day Friday switching positions.
All this pump and dump tells me is how desperate they are. Bear Stearns is dead, Merrill is shjtting their pants and today Lehman shows us it's facing 40-50% stock dilution in order to raise enough dough to stay alive.
When shjt goes ragged there's not much left to do but throw everyone else under the bus, grab what money you can and then strike a match and burn everything down.