Reading about everything that’s happening with the banks is kind of depressing. How the hell did the sh*t hit the fan so hard? The government just bailed out stinking AIG with a $85 billion loan. And all the pundits and experts think we haven’t seen the last of this crisis. When these companies mess up, we need to bail them out with taxpayer money? Or should the Fed keep printing more of our fiat currency, devalue the dollar, and cause inflation? This shows exactly why there needs to be regulation, because when they f*ck up this bad, it affects the whole economy. Deregulation? Free market principles? What the hell do you call the goverment buying up and controlling major financial institutions?
Eliot Spitzer gets caught using extremely high priced prostitutes. Construction crane, that nearby residents have complained about, crashes – with 4 dead and 3 missing. The Fed bails out Bear Stearns, possible indication of more bad news to come not just for Wall Street but the US economy.