On Mar 17, 10:03*am, "Ed Huntress" wrote:
"F. George McDuffee" wrote in messagenews:nu6tt358a9bs9t5c1rjvvnucn61cg4kds9@4ax .com...





On Sun, 16 Mar 2008 19:39:01 -0700 (PDT), Too_Many_Tools
wrote:

One for the record books...

The US taxpayer is paying for this one.

How do you like being a part owner of a bankrupt bank?

There are likely more to come.

And the Iraq War is costing you $12 billion a month.

How deep are your pockets?

TMT
==============
Q: why do we have to read a UK paper to get this depth and
quality of analysis?

Because the quality of the analysis isn't necessarily very good. They've
focused on the view from their side of the world, and on the consequences
that they may face. It's actually a short-sighted view, in light of the
longer consequences of the situation. We're more focused on the consequences
*we* may face.

For a short but penetrating take on it, Krugman's column today is more
relevant to what's going on here, "The B Word":

http://www.nytimes.com/2008/03/17/op...rugman.html?hp

--
Ed Huntress- Hide quoted text -

- Show quoted text -

Good point about the different viewpoint.

But then there is that nagging issue of why this was a weekend
deal...with no one admiting problems until the default happened.

This has not been lost upon the international investment
community...who holds our IOUs.

What they think DOES matter.

Get ready for a hell of a recession.

I have also wondered what it would be like to live through a
depression...maybe we will get a chance to see?

TMT