3.18.2008

Believe, bunky, believe

The markets will take care of everything...



Part of the Fed's job is to prevent just such outbreaks of fear. It "saved" Bear because to do otherwise would have devastated confidence in the U.S. financial system and swamped the larger good -- the continued operation of orderly, stable markets.

[From A contagion of fear -- chicagotribune.com]

...except, of course, when they won't.



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