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  • Wall Street Breakfast: Must-Know News [View article]
    >> "Aid recipients gained from subprime lenders. ...These banks were deliberate enablers that bankrolled the type of lending that’s now threatening the financial system." >>

    And what does it say about the total government response to save these perps from the consequences of their actions ? If we treated drug dealers the same way, we'd be bailing them out, dropping all charges and giving them enough taxpayuer funds to ensure they could pay for their next drug shipment.

    Glad I wasn't in the gallery for Bernanke's testimony - the smell out of Washington is getting really ugly.
    May 06 08:31 am |Rating: +7 -3 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Thanks for the news Rachael, even if it's bad news. aig is insolvent and unsustainable. Its ultimate outcome is clear, but I wonder how many more tax dollars they're going to flush with it. I also wonder how many executives that caused their demise are still working there and bringing home the fat salaries.

    The future is worse in Europe. If the EU doesn't bail out its eastern European neighbors ( I'm not suggesting they do - I'm again' bailouts) the IMF doesn't have enough money to cover the bad loans held by Western European countries. Western European losses will be staggering. It will crush W. European lenders.

    We are seeing a run of financial dominoes with no end in sight.

    Here in the New World, commercial real estate and automakers are teetering on the edge of the cliff. Hang on and keep your seatbelts fastened.
    Mar 02 09:07 am |Rating: +8 0 |Link to Comment
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