Has anyone set up a "burn rate" site for newspapers yet?
They are failing at the rate of one every other day with no end in sight. This is just scary!
Dang . . . I want to buy an investment firm at bargain basement prices! Please mommy please!! LOL. Blue light special. Too bad the government had to step in like the USSR and take over.
This is what happens when you have complex system interdependence. The global financial system is touted for its efficiency and we never get enough lecturing about the power of the free market and how it benefits the group even when the individual suffers. The downside is that there are no firewalls left anymore to stop the falling dominoes. Even healthy firms like MS and GS are now discovering this fact.
The architects of globalization and outsourcing and insourcing labor pools to increase profit are now getting their clocks cleaned because of their recklessness and lack of common sense. Unfortunately, this great unwinding involves 600 trillion dollars of complex security derivatives which far exceeds the worlds capacity to digest. If the global economy collapses, we now have no real industrial capacity to recover our economy. China and Japan will be in the driver seat since they actually make things. Our country has been done a great disservice by the greedy and stupid elite power brokers that are even now pilfering us to save their own skin. This week is only the beginning of everyone waking up to the reality of the last few decades of our insane economic policies.