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Lehman & Merrill: Wiped Out!


Sylph

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Well, I don't know about taxes, come to think about it. The latter depends who gets into the WH -- although I'm sure Obama will be looking at tax breaks in order to jump-start economic activity.

And this "moment" has been more than 3 years in the making. The economy has been overheating forever. The housing sector has been in recession for more than TWO years! The subprime mortgage market collapsed last August 2007. And only now are the talking heads running around talking about "the economy in crisis"? Come on.

We can blame the financial sector for all these problems, but the fact is, Wall Street is only a part of the problem. Households fell into serious debt first -- hence the home market collapse.

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