Stock futures this evening are reacting to what is happening with Lehman. Those of you who voted chapter 11 may wind up being correct. S&P futures are down 38 points and dow futures down 315 in what will be a fluid situation overnight. Crude collapsing in the wake of IKE and down solidly below 100 dollars. Pre market futures are available here.

Meanwhile the big question is what happens to the MLP stakes that Lehman holds and how much pressure does that put on already pressured prices. Lehman has stakes in Eagle Rock Energy Partners (EROC), Constellation Energy Partners (CEP) Crosstex Energy LP (XTEX) among others. Feel free to speculate before we go broke!