9.14.2008

The end of Bailout Nation?

I'm shocked, but cowardly Hank Paulson is still sticking to his promise that Lehman won't be bailed out at taxpayer expense a la Bear Stearns, Fannie Mae, and Freddie Mac.

I have little faith in Paulson, but if he doesn't fold, get ready for some fireworks tomorrow!

AIG and Merrill Lynch, considered by some to be the next dominoes to fall, are already in motion: AIG announces major restructuring, and Merrill is in talks to be acquired by Bank of America.

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Quotations from Chairman Varones

There are very few financial problems that can't be solved by a suitable application of asset bubbles.