I gotcha, basically too big to fail. Makes you wonder how a firm this large could go for so long with out lots of warning signs.
There WERE warning signs, rodguy, as demonstrated by the efforts of President Bush in 2003 and Senator McCain in 2005, not to mention the forced resignation of Franklin Raines from Fannie Mae.
I think that the financial reporters ignored it as they have a vested interest in people buying stocks rather than sticking their money in CD’s. (After all, how much of a show can you make out of varying interest rates on CD’s?) In addition, because most of the news media is democrat, they were very willing to ignore this DEMOCRAT CAUSED financial mess.
Anyway, that’s my opinion.