Our financial system is crumbling this week.

[AWvsCBsteeeerike3]

http://blogs.moneycentral.msn.com/topst ... towel.aspx

Here's where I saw it. Nothing really concrete. Just some guy wrote about it without quoting anything.

Anyway, the stock markets down almost 8% today....will likely be more than that by the end of the day.

[thrill]

This American Life did a follow up to the fanf'ingtastic "Giant Pool of Money" episode and it is up and available free on their Itunes podcast today.


Worth checking out if you want to hear what's going on in understandable, honest terms.

[AWvsCBsteeeerike3]

So, is it safe to say this bailout failed miserably or not? I honestly don't know.

[sighyoung]

So, is it safe to say this bailout failed miserably or not? I honestly don't know.

The bailout hasn't started yet, so the credit markets are still frozen.

[AWvsCBsteeeerike3]

So, is it safe to say this bailout failed miserably or not? I honestly don't know.

The bailout hasn't started yet, so the credit markets are still frozen.

They should probably start it, huh?

[sighyoung]

So, is it safe to say this bailout failed miserably or not? I honestly don't know.

The bailout hasn't started yet, so the credit markets are still frozen.

They should probably start it, huh?

[docellis]

the bailout money won't affect the economy directly for at least a few months, right?

[Popeye_Card]

I thought nothing can officially happen until the World Series is over.*


* unless A-Rod and/or Boras is involved.

[Leroy]

They're commencin' on gettin' goin' on the bailment just assune as the treasury secutary gets the get go.

[Hungary Jack]

IIRC, the first step of the bailout plan is to set up offshore accounts for all the executives of the companies that will receive federal payments for the distressed assets.