Monday, March 02, 2009
Dow Below 6,800; Lowest Close Since ’97
AIG reports biggest ever quarterly loss by a company ($460,000 a minute)
...and that's after receiving $150,000,000,000 of taxpayer money.
i must be a little slow...
credit created the problem, so we're solving it by creating more credit and securitization, so that those securities can be sold to investors that bet on them. sound familiar?
...and just what figure does 'systemic risk' amount to?
if the banks aren't willing to lend, they'll have no income. so make them give up their so-called toxic assets at a bargain price to the taxpayer, and let all americans profit when the economy turns around, instead of existing shareholders.
why do 19 banks have more say than 300 million people?
everybody else is having to 'deleverage'.
oh well, i guess it's just bad luck if you're retiring soon and you had all your savings in equities...
but that's your problem, right?