I’m not going to step in mud on this one. Although I read, I’m not going to say that reading a bunch of blogs makes me an expert in understanding the ramifications a bank failure here and a bank shortfall will be “ok”. However, have several relatives been knee deep in I-banking, I can say these derivatives and financial instruments are way more complicated than average mortals (inclusive) can understand.
Although I’m as pissed off with all these bailouts as probably other parts of main street are. At the same time, I’m foolish enough to be believe that unless there is some radical change in the way our economy works there is/will be no “main street” if “wall street” collapses.
To breezie’s credit…The difference between commercial banking versus i-banking, though, gotten quite murky since the repeal of Glass-Steagall :)…
heh heh.
BTW: Me thinks Frank Quattrone types will be back in business….with their pump on one side, dump on the other….Boy Frank dodged a big bullet, if you followed what he did. See folks, pseudo-crime does pay.
