I haven't researched this but I wonder what happens to the indices that a lot of mutual funds employ to benchmark their bond or stock funds when the issuing institution goes bust? It seems the Lehman Brothers indices were common performance benchmarks for bond and muni-bond funds while Morgan Stanlely performed that role in a lot of international funds. I guess they can switch to Russell or S&P indices, but that begs the question of how their holdings get adjusted and other trading impacts.

 We're sure living in interesting times!