cfran...@gmail.com

Boy, the big boys sure are well-protected in this country.  The Fed
has given tax dollars - tax dollars - to Bear Sterns to assume their
credit risk and keep them from going bankrupt.  Unbelievable.

Why is Bear going bankrupt?  Because they were greedy -- trying to
profit, profit, profit by creating and selling ridiculous mortgage-
backed securities long after the unsustainable housing bubble took
shape.  Bear should have known when enough was enough.  Now the Fed is
helping them out?  How much did Bear contribute to the U.S. debt when
they were rolling in cash?  Didn't think so.

This is the bailout that Jim Cramer was clamoring for last year in his
rant on CNBC.  Ol' Ben stuck to his guns only to fold now?  Good job,
Ben.  Now you've sacrificed your principles at a time when you can't
possibly head off an obscene liquidity crisis.  You've missed two
birds with your only stone.

That's a nice message to future white collar criminals and greed
mongers: "It may take a while, but you'll get your bailout."

Meanwhile, the Fed is setting things up for an even larger financial
crisis in the U.S. and a shift in global financial power to China &
the Middle East.  How cheap do you want U.S. assets to be, Ben?

As for most of you out there:  Yes, Joe Schmoe, President is an
important position and electing a greedy idiot to run things - TWICE -
eventually does have a trickle-down effect on you.  Don't you wish the
Fed would subsidize your debt instead of leaving you jobless &
homeless?