Should Chinese money be bailing out U.S. companies? That’s one of the topics of the widely respected news show “60 Minutes” airing tonight (Sunday). Unfortunately, I’ll be out celebrating my sister-in-law’s 47th birthday tonight, so I’m going to miss it.
You don’t have to be a rabid libertarian or Marxist historian with leather patches on his jacket to look at the current world banking crisis and ask “Cui bono…?“
The present period in financial history favors ducks and undertakers. On the banks of the Thames and the Hudson, every day they fish a couple more cadavers out of the water. And then the medical examiner opens them up so we get to see what caused them to go under. What a sight! It is amazing that any sane investor ever had anything to do with them in the first place.
Worst consumer confidence since 70’s, behind the market rally, Wall Sreet job losses, gas prices and more!
A year ago, a share of The Bear Stearns Cos. Inc. (BSC) would have cost you $150. The “why” has already been discussed, but no one seems to be concerned about the “how” right now, particularly where white knight JPMorgan and the U.S. Federal Reserve are concerned.
