Friday, August 10, 2007

Jim Jubak: How Wall Street got into this mess

Great analysis from Jim Jubak:
How did some of the smartest minds on Wall Street and at banks, insurance companies, pension funds and hedge funds around the world get into the current financial-market mess?

And how is it that you and I will wind up paying the bill, ultimately?...
Read the whole thing.

Related: Another prescient analysis from Jim Jubak: Deepening debt crisis hits close to home

1 Comments:

Blogger Brian said...

It would seem to me one more reason to move to a national sales tax form of taxation and eliminate all corporate tax. This would fuse more money into the market and less into government. This would certainly help off set the loss we are currently experiencing. However, I fear the mindless bureaucrats in Washington will have to meddle in the markets and create more problems, because they are the vanguard of the retired.

August 10, 2007 at 10:06 AM  

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