Wall Street At A Crossroads
Posted September 22, 2008
http://radnichole.wordpress.com/2008/09/22/wall-street-at-a-crossroads/This morning at
Slate.com in the newsletter there's a compilation about the end of investment banking and the government's bailout of those who are "too big to fail." Sorry, that doesn't include any one of us, but does include the CEOs and employees of some of the most run-amuck businesses going over the past twenty years.
The biggest deal seems to be, hopefully, the realization that the staunch NeoCon belief that "the market will regulate itself" is dead. I mean, how can an industry that has brought the entire gauzy fabric of American wealth to it's knees by insider-deals, queering the pitch for everyone else, making "value" out of debt and then having it all come crashing down regulate itself?
