Bear Sterns

[One Eyed Cat]

At least there was a precedent ..... during the depression

http://online.wsj.com/article/SB1205...hpp_us_pageone

We should just take the damage now. Let em fail. Aren't we like capitalists and shite?

OEC

[Bikerpunk]

This is hairy fuckin stuff. The reason given for bailing em out is that THE ENTIRE ECONOMIC SYSTEM MIGHT COLLAPSE OTHERWISE.

This huge bailout keeps them going another 28 days, while the economy improves.

I got news for ya. Several banks next week are going to announce they've got similar problems, and the dollar will drop YET AGAIN as they lower interest rates.

GO BUSH

[Bikerpunk]

We are NOT capitalist. If I was to do some FOOLHARDY margin call at 39x what I own, and fail, I would NOT be bailed out.

[One Eyed Cat]

We are NOT capitalist. If I was to do some FOOLHARDY margin call at 39x what I own, and fail, I would NOT be bailed out.

'Twas being sarcastic I won't use the word usually attributed to the economic system we're approaching. I don't know what else to call it though either.

OEC