Thread: The Depression of 2008
View Single Post
  #67  
Old 03-15-2008, 03:53 PM
Archive Archive is offline
Administrator
 
Join Date: Mar 2009
Posts: 58,359
Default The Depression of 2008
Posted By: Jeff Lichtman

Guys, I'm not sure you are fully grasping what occurred yesterday. Bear Stearns, an 85 year old investment bank, received federal protection (the first time since the Depression that the govt has had to intervene to save a bank). Bear Stearns will cease to exist in a matter of days. That is not a minor matter or one attributable to the media. It is simply an incredible fact.

Reply With Quote