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The end of an era. No more Wall St investment banks
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[QUOTE]Originally posted by Machiavelli: [QB] [QUOTE]Originally posted by Pagan: [qb] [QUOTE]Originally posted by glassman: [qb] [b]Wow glass, I'm shocked you had no comment on the Time article, The United States of France. I thought for sure you'd have a comment[/b] i suppose i don't have much to say cuz i've known we are going this way for ten years. the only real shock to me is how fast it's happening. i'm the first to admit i'm a (chronic) critic, but i wasn't even close to grasping just how bad things were.. our Fearless Leaders refused to look straight at and see that the nationalization of other countries economies was a competitive advantage. they sold US down the river for a few campaign dollars.. you cannot expect American Small Business people to compete against the People Republic of China... and when i said anything about it? people called me names and suggested i'm a whiner or called me a protectionist, as if looking out for yourself is a bad thing... [/qb][/QUOTE]LOL! Your still a whiner, as am I, but I do value your opinion. To be honest, I did not see the Bear Stearns collapse coming, I didn't realize the amount of exposure to bad debt the big investment banks were exposed to. So I was caught a bit off guard. Though I have no financial repercussions from my lack of knowledge, I'm sure many have been devastated by the recent events on Wall St. [/qb][/QUOTE]Lack of knowledge and how much was not said by BS is what caused it's collapsed and not outside forces. Bad bets on their part was the cause. And it was INEVITABLE (yes Glas it was) that they would collapse unless of course someone bailed them out and such. [/QB][/QUOTE]
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