Wow! (Just a rant)

No time to put my links together or anything, but wow. So you've heard by now that the biggest financial event of our lifetimes happened last weekend - the government taking Fannie and Freddie over. Insane. Washington Mutual is on the brink of bankruptcy - one that will eat up half the FDIC fund - a fund that only covered like 1% of the bank deposits anyway. Ummmmmmm...

Now a WHOLE week later (yes all of this is happening TONIGHT), Lehman going bankrupt. Merrill Lynch gets shotgun-wedding bought by Bank of America (as it was OBVIOUS that Merril would not have made it through the week otherwise, post Lehman - nevermind the fact that Bank of America doesn't have the money for this), AIG (a FLIPPING INSURANCE COMPANY with NO access to help from the Fed etc.) says they need $40 BILLION from the Fed to keep going because they can't get money elsewhere, and to top all this off, the Fed is expanding it's lending facilities even more - and it will now accept EQUITIES as collateral!!!!!!!!!!!!!!!!!!!!!!!!!!

Are you F'ing kidding me? Lehman went from $18 to zero last week, that's the type of stuff the Fed now accepts as collateral? And by "the Fed", I mean the taxpayer.

It won't get reported - as proven by the lack of caring the past week - but the Fannie/Freddie thing + this just sealed the fate of this country, and the financial system of the world. This WILL fail so badly. I don't even know what to say or think anymore. This is nuts.

If for some INSANE reason you still doubt the crap I've been spewing for 2 years now - welcome to the part where I say this: I told you.

Game over - you don't need me anymore. It'll be a real-time disaster for everyone to witness for generations to come. They'll blame it on other things - but these manipulations are what caused it. Greenspan caused it. Greed caused it. We'll all pay because we don't have friends in high places.

I am plain shocked. As for what happens to the stock market - who the heck knows in this rigged system? But nearly all banks are insolvent, and most companies will not be making money for a long time with a consumer that gets thrown more under the bus everyday (and doesn't even seem to notice/care) - so you tell me how that ends. Another hint the market gave us - the biggest bailout in the history of the world happened last Sunday, the market loved it - for 1 day.

(Oh by the way, I'm counting Merrill as having gone down. Which makes my Bear Stearns, Lehman, Merrill part of the prediction correct. Next is Morgan Stanley. I had it ending there. That just changed, JP Morgan and Goldman Sachs now go down too. Yep, the 6 biggest investment banks will be gone. Good riddance. Unreal.)