Must read from Barry Ritholtz

[edhopper]

I linked this in the General Forum, but nobody seemed to care.
I think it is worth reading.

http://bigpicture.typepad.com/comments/2008/07/idiots-f...

The collection of ne'er do wells, clueless dolts, political hacks, and oh, let's just be blunt and call them what they are -- total Idiots -- expands into an ever larger circle.

While the Republic burns due to the unsavory combination of incompetence, ideological rigidity, and crony capitalism, the fools and assclowns seem ever more determined to avoid any personal responsibility for the damages they have wrought. Instead, they flail about blindly, blaming everything and everyone -- except their own horrific negligence.

This is financial incompetence writ on a scale far grander than anything seen for centuries.

[fasttense]

1. Your link doesn't work. n/t

[edhopper]

2. Well "f" me...

here you go.
http://bigpicture.typepad.com/comments/2008/07/idiots-fiddle-w.html

[harry123]

3. Ritholtz is right

The Feds better wake up. People are panicked. There will be another run if this keeps on at IndyMac.

http://www.latimes.com/news/printedition/front/la-fi-indymac16-2008jul16,0,5489094.story