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Meltdown Monday.....
Good Job Capitalism coupled with Corrupt Politicians
So, Lehman Brothers is dead, Merrill got absorbed, and AIG is on life support - maybe.
Lessons to be learned:
1. Unregulated capitalism will give you a boom/bust cycle
2. Unregulated campaign contributions by financial company special interests/PAC's to Congress will result in rollbacks of regulations put in place to avoid such meltdowns.
3. Something that doesn't smell good then promptly hits the fan.
So, Lehman Brothers is dead, Merrill got absorbed, and AIG is on life support - maybe.
Lessons to be learned:
1. Unregulated capitalism will give you a boom/bust cycle
2. Unregulated campaign contributions by financial company special interests/PAC's to Congress will result in rollbacks of regulations put in place to avoid such meltdowns.
3. Something that doesn't smell good then promptly hits the fan.
