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Bye, bye, Wall Street
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The Wall Street mess seems impossible to fathom, but some diligent searching has found some light of reason.
Nicole Gelinas, an analyst at the Manhattan Institute for Policy Research (www.manhattaninstitute.org) in her article in Monday’s New York Post, strips away the bull and tells it like it is.
It ain't pretty.
You can read her piece on the Institute’s web site. It’s titled “Wall Street Debt Knell.” She has several others on the site worth your time.
I found one more lantern in the dark that offers an explanation of the mess. It is www.unclejayexplains.com. Be sure to go to his Sept. 22 video.
But whatever plan Congress, in its’ wisdom, passes, and it will pass some $700 billion “rescue” program, Wall Street, as we’ve known it for 100 years, no longer exists. Lehman Brothers is gone, Merrill Lynch is now part of Bank of America, and Goldman Sachs and Morgan Stanley are becoming commercial banks. The great (sic) brokerage houses of yore are no more and shall never be again.
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