Bailout Nation
While I fathom what's been happening down on Wall Street this year, I lack the expertise to explain it succinctly. I recommend reading the following:
"Wipeout" by The Cunning Realist
"Layman's Explanation of AIG vs Bear vs Lehmann" by Barry Ritholtz over at The Big Picture
These guys, along with Hellasious over at Sudden Debt, have been tracking the problems in the financial industry for some time now and warning their readers of the significant structural integrity issues facing our financial industry. Unfortunately, those with the power to do anything to avoid this mess haven't been paying attention.
Comrade, how do you feel now that we, the taxpayers, have an 80% stake in AIG, the largest insurance company in the world? Here, have some Pepto-Bismol. I just bought a case of the stuff.
\_/
DED
"Wipeout" by The Cunning Realist
"Layman's Explanation of AIG vs Bear vs Lehmann" by Barry Ritholtz over at The Big Picture
These guys, along with Hellasious over at Sudden Debt, have been tracking the problems in the financial industry for some time now and warning their readers of the significant structural integrity issues facing our financial industry. Unfortunately, those with the power to do anything to avoid this mess haven't been paying attention.
Comrade, how do you feel now that we, the taxpayers, have an 80% stake in AIG, the largest insurance company in the world? Here, have some Pepto-Bismol. I just bought a case of the stuff.
\_/
DED
Labels: economy
posted by DED at 3:16 PM
4 Comments:
All I can say is wow.
No doubt!
Bailout Nation is right, but the sad thing is it will make no difference to the inevitable outcome: total failure of the current system of massive debt (government, corporate, and personal) that masquerades as "economic growth". The truth is showing itself rather clearly now.
Ded,
I just wrote another piece on my blog you may like (or, I hope you do at least).
Read my rant, and my proposed alternative to Bernanke/Paulson BAILOUT
I have not quite finished my Executive-Pay Reform Manifesto, but it'll be out there on my blog in the next day or two also. he he he.
This country needs to wake up, and do so soon, before it is all over!
Thanks for stopping by Ded. I finished my CEO and Executive Compensation Manifesto" today. I think you will like this one too. My brain is abuzz with all sorts of ideas (i.e., common sense!) regarding how to "fix" some of what ails America. This government just has me so pissed off (well, them AND Wall Street!)
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