After decades of duck, dodge, and hide, the truth has finally come out: much of the world’s purported finances are not worth the paper their written on. The ‘bailout’ may be an aspirin for the market, but if we do not learn from this, an even grimmer forecast awaits us all. We must compel reform for corporations to maintain some form of essential liquidity - in order to protect the economy. Businesses cannot completely run (and re-run) around a credit line.
Wall Street should be ashamed of itself in allowing this...floating the whole boat. Like an industrious cargo ship, she sauntered from port to port, making herself look full and vital. Now, it appears her ‘ballast’ was little more than air.
When it served the brokers, it served them well, but now the bell has tolled.
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