[CRBDeuce]

this is "it" for the American financial system.

So I take it that you would agree completely with those who shorted financials the minute that Larry Summers wrote his letter to Paulson last week!

[gpk9]

"So I take it that you would agree completely with those who shorted financials the minute that Larry Summers wrote his letter to Paulson last week!"

I have read Larry Summer's Jan 15 letter. His intentions and recommendations will do nothing to help the economy. Supporting further bailouts will only make things worse in the long run. Reckless spending on credit is what created this mess. More reckless spending on credit by government will make it worse.

My view on shorting financials would have nothing to do with any letter written by anyone. I believe it is foolish to make large financial decisions such as shorting an entire sector based such trivial things. My view would be based on sector fundamentals, which at this time are heavily impaired in my opinion.