by Calculated Risk on 7/24/2009 04:00:00 PM

Both Corus and Guaranty Bank (Texas) are on the mat being counted out.

Financial Guaranty has even agreed to be seized.

Apparently Corus bidders have a couple more weeks.

Click on graph for larger image in new window.

The first graph shows the S&P 500 since 1990.

The dashed line is the closing price today.

The S&P 500 is up 44.7% from the bottom (303 points), and still off 37.4% from the peak (586 points below the max).

This puts the recent rally into perspective. The S&P 500 first hit this level in Sept 1997; about 12 years ago.

The second graph is from Doug Short of dshort.com (financial planner): "Four Bad Bears".

Note that the Great Depression crash is based on the DOW; the three others are for the S&P 500.