[Cold Heat]

It’s almost fun to watch tortured, sensitive Dick Fuld (of Lehman Brothers) testifying before Waxman’s House committee.

I don't know what good it does to kick a dead horse, but Lehman committed suicide by hubris. It was not forced to fail.

As to the ignorant public opinion, I have been trying to address that with no success. The public is simply being manipulated, and now cannot seem to be able to get out of it's own way. If this country goes down for the count, it will be largely due to government responding to public opinion. That has not yet happened to the degree necessary to crash the economy, but it is coming very close and may yet fall over the cliff.

[VOA]

If this country goes down for the count, it will be largely due
to government responding to public opinion.

You'll get no argument here.
I can see possible (and even plausible) arguments to save AIG
due to it's insinuation throughout the world economy.

But the mixed messages of saving Bear Stearns, then letting
Lehman fall...just too bloody confusing to figure out for even
some sophisticated investor to say "hey, I'll put money into
this distressed stock on speculative purposes".

And after AIG, the government said the message to distressed
companies to merge...to "get big fast" in order to become possibly
"too big to fail" and get a government bailout.

Instead, now the sane are completely out of the game, and only
sellers are active!