on the one side i wish the fed would not have bailed out bear stearns and shown the same kind of toughness they show towards all of the low to medium income people who find themselves in trouble with paying down their mortgages. but at the same time a real crash (and that might actually still come) would probably have been even worse for those. but what really pisses me off is that those at the heart of this whole mess will not have to worry, they sit in their million dollar apartments in ny and the only way they will feel a pinch this year is that they can’t buy another house on the hamptons or a new car.
going forward countries will have to realize that the market just doesn’t work — at least not in a civilized world. people are just too stupid and money is just too blinding for them to make rational decision.
Filed under: economy, short to mid term risk | Leave a Comment
Tags: bear stearns, dollar, economy, euro, fed, stock market
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