Exactly right, I dont understand how they let these major banks and brokers take advantage of the credit situation the last decade. Why werent rules in place years ago to control this. Credit default swaps (HA!!). I guess greed does own wallstreet. All that is happening now was certain to happen in any market that GREED controls.
Shouldn't Fed. as a Band Aid cure, NOT allow shorting of the Bank's and other Financial institutes? As in when one couldn't short on a down tick and now on bigger scale, NO shorting allowed on a Down Hill free fall Share? Like anytime a share tumbles beyond a certain momentum etc.?
wow Cramer said C to single digits, tonight, but he said deposits are safe, no need to line up and withdraw your moeny from any bank. HMMMMM, I could just imagine millions of people in the US one day waking up and running to their banks to withdraw everything they have due to this crisis we are in today. Why do I have a feeling now that cramer said that deposits are safe that now I feel I should worry.