Just when everyone thought we’d heard the last of it. Just when you thought it was safe to turn on the evening news. Not quite – yet another bailout is being crafted as Bank of America needs even more of your tax dollars and the Treasury is on the job and ready to help.
Markets in typical fashion have been playing the emotional rollercoaster as rumor after rumor shot across the news ticker. Yes help is on the way – up go the markets. Oh wait, BofA might not get as much as they wanted – boom! stocks go down. And so the day and week have gone.
The fact that literally hundreds of billions of dollars in retirement accounts which consist of almost completely unrelated assets can hinge on whether more tax dollars will be thrown into the BofA black hole should tell us that something is terribly wrong here. 2009 it would seem is getting started exactly where 2008 left off.
[...] [Technorati] Tag results for commodities wrote an interesting post today onHere’s a quick excerpt Just when everyone thought we’d heard the last of it. Just when you thought it was safe to turn on the evening news. Not quite – yet another bailout is being crafted as Bank of America needs even more of your tax dollars and the Treasury is on the job and ready to help. Markets in typical fashion have been playing the emotional rollercoaster as rumor after rumor shot across the news ticker. Yes help is on the way – up go the markets. Oh wait, BofA might not get as much as they wanted – boom! [...]