Fear, doubt across U.S. amid Wall Street storm

By Michael Conlon

CHICAGO (Reuters) - The turmoil on Wall Street sparked fear and anger on Monday as Americans watched markets tumble amid a make-over of financial giants whose names once seemed as good as gold.

"I'm horrified. I'm angry about it. Where has the government been?" asked Joanne Lucid as she sipped a morning coffee at a shop in Minneapolis.

Her companion, Kevin Winge, 49, asked if he'd reordered his investments, said, "It's too late. I should have done that on Friday."

Some interviewed at random around the country expressed a helpless resignation as they watched another sharp market fall following Lehman Brothers Holdings Inc's bankruptcy, an agreement by brokerage Merrill Lynch to be bought by Bank of America and reports that insurance giant American International Group was seeking emergency help.

"Everything seems risky," said Dave Finley, a highway contractor lobbyist in Columbus, Ohio, who said he was very concerned about the state of his 401(k) retirement savings plan. He said he planned no major changes now but felt at a loss to know what to do if he did revise things.

Kathy Jennings, a nurse in Columbus, said she and her husband, an engineer, are also worried about their 401(k) and other investments but don't know what they should do.

Jim Trapp, a financial adviser with Fifth Third bank in Columbus, said his customers "see it as a very critical situation" and two of them have just moved holdings out of securities and into real estate investments.

"It's very troubling," said Oscar Perez, 52, of Coral Gables, Florida. "The economy is weak and when the giants start to shake, there's trouble ahead. When the little guys shake, maybe it's not so bad, but when the giants have problems, it could be a domino effect."