It’s been around a week since the unprecedented bailout plan was proposed to save Wall Street. The plan that was devised in desperation to avoid a repeat of the great depression is intended to provide quick relief to the failing mortgage market. As one might have expected, politics has been and will continue to stall the implementation of the big bailout - perhaps until it is too late.

Read the rest of this entry »

Christmas came early for AIG today as the Federal Reserve announced it was going to provide an 85 billion dollar 2 year loan to keep the global investment firm afloat. Apparently it takes that much money to prevent an event worse shitstorm from occuring.

Read the rest of this entry »