saturday matinee, page-13

I could write a book on a particular lying, cheating, conniving CEO....I am sure others have a story to tell. I would love to name him but he is like teflon...nothing sticks, he just slides on into the next company driving away in his brand new Porsche with another big fat payout.

More pain to come for sure IMO, as the lying and collective arse covering commences.

Cracking
Bear's crisis is the latest sign that the U.S. financial system is cracking under the weight of a global credit crunch that was sparked by last year's subprime mortgage meltdown. The Fed has slashed interest rates and central banks have injected roughly $1 trillion into the banking system since then, but the crunch continues.
The Fed's decision to bail out a brokerage firm recalls other financial crises in which authorities tried to limit turmoil by propping up institutions including Penn Central, Continental Illinois, Orange County, California and hedge fund Long-Term Capital Management.
"What is different this time is that the dominoes are falling in so many different sectors, markets, industries and countries -- all at the same time and there is yet no end in sight," said Sherry Cooper, chief economist at BMO Capital Markets.
http://www.marketwatch.com/news/story/bear-stearns-goes-life-support/story.aspx?guid=%7BFB1471C5%2D8532%2D4893%2DB2A6%2D4869733CCD98%7D