I don't remember if I posted a link to this video several months ago. But there was a video of some program on CNBC. The talking head had several economists on to discuss what should be the govts role in bailing out the mortgage companies that were going belly up due to their significant amt of failed subprime mortgages.

One of the economists dared to posture that bailing out the companies made no sense. Since it would be basically a case of the govt saying they were sorry these companies made poor business decisions and sending them a bunch of money to help out. So the govt would help out the companies that made all these bad decisions, but those who suffered on the lower end of the spectrum due to these decisions were getting hung out to dry.

Many articles today are pointing out the same thing bout Sterns. They were always regarded as being on the edge of financial transactions. And they got burned bigtime because of that. So us taxpayers will be making some big payments to cover their butts.

Some here have previously stated how they don't see a big problem. Things here have suffered before, but have always bounced back. Ignoring situations that are occurring that have no precident.

No one know when the bottom will occur, or where it even is. As the dollar falls even lower, causing things like oil to get more expensive, we appear to be caught in a big catch22.

>>Things are looking decidedly iffy over here on the FTSE100.
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>>Be interesting to see how the US market fares today.
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>The Dow didn't do so badly but the dollar got hammered, again. Which is another measure of confidence in the U.S. economy.
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>I was stunned by the Bear Stearns news yesterday. Not only that such a big name company was bought out but that it was such a fire sale -- two bucks a share when their stock was trading at around 30. And everything I have been reading predicts we are closer to the beginning of the subprime mortgage crisis than the end.