The ugliness south of the border.
 

When will it end?

“Greenspan’s Bubbles: The Age of Ignorance at the Federal Reserve.”

Maybe I'm a little hard nosed and Darwinistic, I believe in taking responsibility for our own actions, personally and corporately.

The Fed seems to be feeding the problem with more liquidity. I use the analogy of drip feeding the drug addict as opposed to forcing him to quit cold turkey.

The banks in their rush for market share created ingenious ways to print money to lend, then sell. They enabled the equally greedy consumer by providing them money by using their houses as ATMs.

These lenders and consumers should pay for their greed, the taxpayer should not. Let the greedy go tits up, the strong and sensible will survive, the financially greedy will learn a lesson.

Gretchen Morgenson, NYT
 

Then you should like this one:

http://www.nytimes.com/2008/03/16/bu...f6d&ei=5087%0A

I agree with most of the peice.

I bought CFC (Countrywide) for about $6 in late Jan, early Feb. I thought the worst had happened already and that I was being very clever. I could own it for a long time, good thing I don't need it for a long time!!

It's mostly rigged. We are "ordered" to see Bear Sterns shares for $2, pennies on the dollar, to the bankers (JP Morgan) . Free market? I don't think so.

Did you notice the massive market rally yesterday on the Fed cut - whereas Sunday's emergency cut had no effect? By no coincidence the Visa IPO is today. JP Morgan is involved in the IPO.
There is no way Wall St. will lose money on that one.

This game is old and tired, they always end up buying our assets for pennies on the dollar. :o
I've worked in the industry for 5 years, following it quite closely.

Always nice to buy Lehman at the low end then sell much higher a day later ;)