The fed will not be able to afford to bail them all out. I believe that is the reason they are not doing it.
Although I don’t want them to bail anyone out, their reason for not doing it is not very good news for the economy.
I hope y’all got a good garden and remember how to can food. ;)
As the mechanic says, you can pay me now or you can pay me later. This will be a lot more expensive to fix in the future. 500 points loss on the dow is a lot of equity, probably at least $100 billion. It would have been a lot cheaper to guarantee a sale of Lehman, which most likely would have ended up costing nothing, or been profitable in the long run.
I live in a condo, but I have thyme growing in a pot.