Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Maurice Winn who wrote (73389)	5/7/2010 10:17:00 AM
From: maceng2	2 Recommendations Read Replies (1) of 74559

When you sign up for something to take on the responsibility for that entity. In "uncle Als" case it was the Fed and all who sailed with her as he was the FED CHAIRMAN. The buck stops at the top. In the same way, when Fabrice Tourre signed up with GS he accepted he was part of the problem as well as any possible solution. Therefore when he whined to his girlfriend he was doing things that were wrong, he more or less signed his own confession. The crooks at Enron are an example of what you call "steady as she goes". They have been investigated so far and it's now visible what they were up to. In fact there were overblown bubbles of the worst kind, and bubbles upon bubbles. "Uncle Al" swept it all under the carpet and now we have trillions upon trillions of bad money in the system. He has been at the helm of the worst financial disaster ever. He will go down in History as inept.

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