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Economy and General Discussion
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Re: Bear Stearns Plans $3.2 Billion Bail Out / Largest since LTCM
Posted by: petertribo
Date: 06/22/2007 07:30AM
WHEN GENIUS FAILED said it all and here we go again. The FED at LTCM were able to get all the asses in the same room and do a deal. REMEMBER THE FOLDING CHAIRS? Now it seems the Derivatives Game is too big, too many asses or not enough folding chairs. And, lest we forget, Lowenstein at the end of the book talks about all the PROSECUTIONS which were dropped. So, the malefactors and their imitators were able to move on to bigger games. Accompanied by all the other Players from the S & L Disaster, Asian Crisis, Mexican Crisis and assorted other smaller cons by America's financial wizards.
So, now, maybe TOO BIG TO FAIL becomes TOO BIG TO BAILOUT.
So, now, maybe TOO BIG TO FAIL becomes TOO BIG TO BAILOUT.
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