World-News

By Mike Whitney

Bear's travails are just the beginning of Wall Street's woes. Now there's talk of Lehman Brothers going under. According to the Wall Street Journal.

http://www.informationclearinghouse.info/article19552.htm

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The Fed panics

The American Spectator
by Philip Klein

The extraordinary intrusion into the free market over the past several days by the Federal Reserve Board under Chairman Ben Bernanke should send shudders down the spines of conservatives everywhere. While some so-called free marketers were lauding the Fed’s bailout of Bear Stearns as a necessary rescue of a banking institution that was too connected with the rest of the financial system to be allowed to fail, government should not protect Wall Street firms from the inherent risks of investing. As a result of the deal, American taxpayers could be on the hook for billions of dollars in troubled mortgage assets so that Bear Stearns can avert bankruptcy...

http://www.spectator.org/dsp_article.asp?art_id=12911


Informant: Thomas L. Knapp



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