What I think about ongoing financial crisis in US is this:
Obviously the facts are that only few could predict the situation and almost nobody is able to explain to the public the history and the root of the problem so people could understand it 100%.
Therefore I think that 700 billion bailout plan or other similar plans are just attempts to solve the problem which people in charge are not able to understand or define correctly. So... If people in charge still are not able to define and explain the problem in details short term — no need to intervent the U.S. economy.
It's gone. Let all these failed banks die and CEOs responsible should go to jail. IMHO.
Tuesday, September 30, 2008 3:42 AM