Monday, September 22, 2008

The Financial Mess Explained

Not overly long, one look at some U.S. financial history from 1982 until the present.

And if you think it can't get worse, read this:

The Federal Reserve said Sunday it had granted a request by the country's last two major investment banks — Goldman Sachs and Morgan Stanley — to change their status to bank holding companies.


What does that mean? It means, if I'm understanding this correctly, and I think I am, that they don't have to go down in the flames they deserve - nope - they get a piece of the $700 billion dollar pie that us taxpayers will be paying.

Isn't that special?


Digg!

1 comment:

Bpaul said...

My butt hurts (to use polite parlance)