As Wall Street Collapses, Will Washington Get a Clue?

By Nomi Prins, AlterNet. Posted September 17, 2008.

The speculative nature of the financial industry is a threat to
national economic security. It requires a serious exit strategy.

As the Dow hemorrhages, Wall Street firms are betting on which one
will bite the dust next, and Federal Reserve Chairman Ben Bernanke
probably wishes he could leave as the next administration sets up
shop, no one is proposing the long-term solution to the banking
crisis: regulating the industry.

The Fed was right to turn Lehman Brothers away from its window during
those final moments of doom on Sunday night. As such, the resulting
$613 billion Chapter 11 filing, the largest bankruptcy in U.S. history
(WorldCom dropped to second with a mere $104 billion in assets) was
secured.

Zaroc Stone wrote:

I hate to ruin the gloom party, it hasn't...

--
not too random uselessnet weirdness:

Bill Shatzer wrote:

"And over 4,000 Americans have paid with their lives for that little
adventure. Plus a half a trillion dollars in national treasure

You might compare that with the number of lives lost on 9-11. Or the
economic injury incurred from that event.

It would have been cheaper in both lives and money to just suffer
another 9-11 every six or seven years.

Peace and justice,"

Baxter blurts out a plaintive call for Viagra:

"At my age, I don't need balls. I'm done with the procreation stuff."

On Wed, 17 Sep 2008 20:03:47 GMT, zstone@nospamusa.com (Zaroc Stone)
wrote:

Later, perhaps.

Not now.