yes, i specificly remember when Lehman went under the banks stopped trusting each other's ability to assess their own exposure. The banks stopped lending to other banks and that's when Paulson got on his knees (literally, i think there's a picture of him on his knees in front of Nancy Pelosi) asking congress for cash to guarantee loans. The side effects started squirting out everywhere i think even Mcdonald's was hours away from bankruptcy because the corporate paper market suddenly ceased to exist. Also, money market returns turned negative briefly, that's like a negative interest rate on a traditional savings account bad. It was bizarro world for maybe 72hrs.

The movies don't really do justice to just how upside down and nonsensical the financial world became. It was a knife's edge for 2 or 3 days.