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Three Strikes and the Idiots They Created
$700 Billion.
Massive commercial paper purchase agreements.
½ percent rate cut.
Well, looks like we went swimming with those band-aids on, and now they’re floating in the pool. Following bailouts and bailout proposals, buyouts and rate cuts, investors themselves have decided to bail out. The S&P is down 42% from its high exactly one year ago yesterday.
You know how sad things are? I didn’t have to elaborate on any of the first three fragmented sentences of this article. You knew exactly what I was talking about in each case. The government has thrown everything it’s got (and some things it hasn’t) at…
13Oct2008 | Oxbury Research | Comments Off | Continued
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