fanny mae and freddie mac...nationalised (in the best interests of the nation blah blah blah)
lehman brothers now a mere footnote in history...the result of the Fed not willing to use public funds to rescue them...they were apparent "not too big to fail"...barclays apparently eyeing parts of the business...circling shark packs...
merrill lynch is now part of bank of america, apparently foisted off on BOA by the Fed...
next up AIG, desperately trying to stave off bankruptcy, has now been "nationalised" with a loan by the Fed of 85 billion in return for a 80% stake...
what next? tinderboxes a-plenty in the market... how long more before rescue becomes nigh impossible?
and why has it become this way? lack of regulation? what can we learn from this?
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