bert

Crazy P/E Ratios

"Because authorities have decided to indulge a populist desire to slaughter the banks out of envy and resentment."
I would suggest your both right. Bailing out the banks by buying them is equivalent to slaughtering them. If the US is going to go the way of owning the banks then its going the way of say Laos. The hotel I stayed at there pays $33.00 a month to its employees. Why should we assume that the adoption of the same system would not lead to the same result in the US? I was sorry to see Greenspan capitulating to the corrupt mainstream establishment recently. He had previously been a very lucid advocate of free markets.