Fearing a financial crisis worldwide, the Federal Reserve reversed course on Tuesday and agreed to an $85 billion bailout that would give the government control of the troubled insurance giant American International Group. Full Story »
Posted by Woozy Duck
Clear explanation backed by good information. Although the legs of this still-to-be-revealed financial mess goes back before Bush, it was neocons who wiped out regulation to turn loose its free-market follies. Everyone had a good time, made lots of money, and never gave a second thought to consequences. In The Huffington Post, the title of John Neffinger's article says it all: "If McCain Had His Way, That'd Be Our Social Security Money Wall Street is Losing. No one has the slightest inkling as to how many more institutions are going to fail.
