Discussion paper :Meltdown 'inside' Wall Street's brain

Discussion in 'Wall St. News' started by ASusilovic, Aug 14, 2007.

  1. Comment from By Paul B. Farrell, MarketWatch

    Soft landing? Worst is over? Recovery? Buy on dips? Strong economy? Hey, what happened to all the self-serving happy-talk of a month ago? When will we ever learn that the relentless daily onslaught of "news" spun by Wall Street is 99% brainwashing hyperbole and 1% reality, all scripted to manipulate the great American herd of 95 million investors.
    Sorry to be so darn blunt, but watching the high-drama of the post-14,000 meltdown on the Dow industrials made me mad as hell because it was so predictable ... record volatility as Wall Street went ballistic with every breaking news blip ... hedge funds bleeding money ... mortgage company failures ... a metastasizing credit crush forcing foreign banks to pull the plug on subprime deals.