JohnL

Backroom Bear Stearns Deal Exposed

The Fed is heroic, huh? The arsonist shows up and puts out the fire. When are people going to stop and ask: why is this happening? You don't have a "loss of confidence" unless the money is worthless paper and the loans form an illiquid pyramid. As long as our "financial system" is based on fiat money and fractional-reserve lending, the problems and the bailouts will continue. And taxpayers will keep picking up the tab for the bad bets made by the financial "elite."