A Parade for the Creeps

Now that it seems likely that a “bailout” by the Feds will take effect, the big question remains will it work?  For sure, this is no silver bullet, but a necessary evil for the prevention of economic chaos.  Now the credit problems are spreading to Europe.  This is getting real serious folks.  Trust me, it can get very ugly if there is not some turnaround in the housing market.  If real estate values can even be stabilized by this bailout it would be well worth the cost to taxpayers.  I must admit that I feel only contempt for the creeps on Wall Street that caused this mess.  There was a scene in the recent John Adams series in which a British sympathizer was tar and feathered.  I would pay to see this happen to the folks that were so greedy that they kept peddling this junk.  And what about the rating agency people?  Where was there due diligence?  The answer is nowhere to be seen, since they too were collecting big fees from the issuers.   I think a parade down Lower Broadway would be in order.  Let the world look at this creeps in full glory. They can ride on floats carrying names like Bear Stearns and Lehman Brothers.  I could go on and on but don’t want to get carried away!

 

These are the most bizarre times that I ever remember in the financial world.  Doom and gloom is so thick you can cut it with a knife. One of my favorite sayings is. “It's most dark before it’s pitch black”.  That may be the case this time around.  On the other hand when there is such a preponderance of gloom, it could be a good idea to take a look at some interesting situations.  Warren Buffet has already made money on the Goldman deal.   

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