Monday, March 17, 2008

Necessary despair finally here?

Just noticing that CNBC is running a Breaking News segment under the heading of "How safe is your money" explaining SIPIC and FDIC. Explaining federal insurance backstops as breaking news sure seem to me to be a sign that we have hit that necessary despair that might finally signal capitulation.

Let's hope we're getting close anyway.

Time to turn our attention away from what went wrong to how we can start rebuilding on more solid, real footing, not wiffle assets. Or will that even be possible in a presidential election year?

1 comment:

gregory said...

the idea called "rebuilding" is interesting... what is it?

can the same minds that made, and continue, in the game, rebuild anything that would be different?

i don't think so, which is why i am hoping for total collapse...