Listening on Bloomberg to all the talking heads debating whether these sleezy 'entities' are too big to fail or not. A hysterical Barney Frank states [paraphrased] that 'if this only affects the people in these companies we will feel sorry for them but they profited in the good times and they have to deal with the bad... but if this is going to start a chain reaction OF COURSE, YES... we need a public bailout!'
What these clowns don't get is that the chain reaction is in progress and sticking fingers in the dike is not going to work - least of all with the public's money, as the public is going to need every penny it can scrimp together going forward. Again, I will ask where was everybody 2, 3, 4 years ago? I was running around looking for safe banks. FSO, 321, G-E, Safehaven, etc. have been publishing sound advice from sane authors for years. Who listened? It comes down to this; the heads of these companies were either criminals or retarded. They have golden parachuted to cushy retirement - many owning gold bullion no doubt - while the public gets the shit end of the stick... again.
