Thursday, September 18, 2008
Morgan Stanley scrambles for a buyer
My how a week can change Wall Street. Gone are Bear Stearns, Lehman, and Merrill Lynch...and soon Morgan Stanley who's trying to get the shaky bed of Wachovia. Morgan Stanley like all the other private, investment banks have up the wazoo in bad loans. And no one knows what's on the books of theirs and won't know since there is no law which hold their soft feet to the fire. By hooking up with Wachovia, like Thyphoid Mary, it will infect Wachovia with its unfettered debt which in a sleight of hand will find protection under federal guidelines. Which means that the ordinary man and woman on the street will be saddled with even more debt...no thanks to Herr Bush's mad radical mania to extreme privatisation of the US economy, for his rich friends and thugs. The anal hair stylist & US secretary of the Treasury & his co conspirator in ripping off the taxpayer are out of their league but will do everything to snatch from complete disaster the so called free markets. Which brings to mind church goer Karl Marx who spoke of freedom of the press...yes the press is free for those that own the wherewithal and means. So, in short, the crisis continues and what for more shoes to drop in the US and world markets.
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