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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Snowshoe who wrote (73153)	4/4/2010 7:30:37 AM
From: Maurice Winn	1 Recommendation Read Replies (1) \| Respond to of 74559

Snowshoe, the rescue of Goldman Sachs shareholders and creditors was done out in the open too, along with umpty $billions handed out to banks and other financial institutions with friends in high places. The fact that swindles are done out in the open doesn't mean they aren't swindles: <Swindle? It was all done out in the open, fair and square! Wally is a man of action... > Paul Krugman made a comment about "too big to fail" that I had been thinking too. Lots of little banks failing is as bad as one big one going bust. In fact worse, because lots of little "rescue" actions are harder to do and more costly than one big one. Hordes of little failures are also as bad in their effect as one big one, so "rescues" become no less essential. Which is not to say that rescues as they were done were necessary. A legal swindle is much better to do that the Bernie Madoff variety. Mqurice