AS if the economy was not totally fucked for the little guy now the big boys are getting hit too. This shit is not good....poor rich people do not give jobs to other poor people who were never rich.
The Russian oligarchs are hurting and good old Bernie Mad(e)off has absconded with some 50 billion dead us presidents from widows, assorted old folks and charities as well. Bernie was running a complicated ponzi scheme...dumb enough to tell his sons....who promptly called the SEC, Bernie soon did a perp walk that would have made Bernie Ebbers proud.
Tune in to CNBC they are all over it 18 hours a day.
Let's see...here's a list of all the previous fucked up shit that contributed to all the fucked up shit today:
Community Reinvestment Act
Commodity Futures Modernization Act
Credit Default Swaps (created by the CFMA above)
Greedy Morgage Lenders
Greedy Homebuilders charging too much for homes not worth it
People dumb enought to believe that someone else had their back
Greedy Wall streeters and CEO's of tanking firms
Hey I wonder if GM still has the heated and cooled parking garage?
....and then they made refrigerated beach sand in Dubai. Damn. Whatever happened to good old American ingenuity? No wonder people panic when Steve Jobs coughs.