Sunday, September 14, 2008

Treasury secretary Paulson could not pull a rabbit out of his hat this weekend. I just heard on CNBC that Lehman filed bankruptcy, and AIG, if it does not get a huge Fed loan ($40 billion), will likely follow Lehman's path. The situation is very fluid, but Monday is going to be a wild day for global stock markets. I saw Alan Greenspan on ABC's This Week this morning and he said the current crisis is the worst financial crisis he has ever witnessed. He should know because his blind eye over the few years of his tenure is, in part, responsible for today's mess. Unfortunately, I think the problems today are going to lead to more regulation.

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