Thursday, April 03, 2008


I saw a headline on Google news saying that the CEO of Bear Stearns said his company would have been saved if the Fed bailed them out sooner.

Oh yeah? Well maybe he could have saved his company himself if he put a stop to the hedge fund shell game.

Robert Reich on tonight's News Hours with Jim Lehrer pretty much said that it would have been nice if Bear Stearns ponied up some collateral in exchange for the bailout money. Yes, that would have been nice, but this is par for the course. No one was required to put down much collateral during the bubble.

Things won't change until someone up at the top sets a good example.