"Lehman was only incompetent enough to blow up and destroy themselves, where as Bear's degree of incompetence was enough to threaten the entire financial system," Ritholtz said.
read the original article (
http://money.cnn.com/2008/09/15/news/companies/why_bear_not_lehman/index.htm) although i'm no expert, i think the fed has been making the right moves. they're dragging out this subprime mess over a longer period of time to minimize effects as much as possible...it could really be a lot worse. if all of the impacts of the subprime mortgage crisis had hit all at once, we could see a completely catastrophic meltdown within days that could have an impact similar to the great depression.
in other news, presidential hopeful
mccain "helped create" the blackberry. yep, you read that right. the scoop is here (
http://edition.cnn.com/2008/POLITICS/09/16/mccain.blackberry/index.html) if mccain becomes president, we continue to widen our deficit, and do nothing to shore up our financial system, then we might be facing a global recession the likes of which we have not seen for several decades. of course i wasn't alive then, so i wouldn't really know...and hope i don't find out.
