Bear Stearns Crash;
How do you touch down;
It took some time, now it's going down;
Soon you'll see;
We need a New Bretton Woods;
The system dead;
Don't let it kill you.....

(Spoof: Eight Miles High- the Byrds)

Well Bear Stearns is finally crashing. It took a while. Remember, Bear was the first one to have its hedge funds hit in June 2007 at the beginning of the "subprime mortgage crisis." Various idiots told you that the system is safe, it was just those guys with the bad loans and lots of leverage." Remember that Bear is the 5th largest U.S. investment bank. We at realcrash.com and larouchepac.com warned you. Who you gonna call?

Now it is going down, from Eight Miles High. How DO you touch down?

With a New Bretton Woods.

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Posted By: Howard - Category: No Category

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4 Comments. [ Add A Comment ]

Comment by S.L.

March 15th 2008 13:59

The Political Brief

Yes, Howard, you did predict this. The stock market is wobbling as a result, too. Other banks are coming to Bear Stearns rescue while the government is coming up with ways to help the individual home buyers. Real estate speculators are on their own, as they should be. The President seems confident that the USA will weather this "storm" as we have so many others, and I think he's right. The solution is time, and economic recovery through free enterprise... not a government take-over or make-work "projects." That's a very slippery slope that leads to communism, my friend.

Comment by Howard

March 15th 2008 14:08

Real Crash

Remember what I said about St. Augustine's confessions. Selfishness is a deadly sin, like lust and greed. The nation-state was formed 500 years ago, first in France, to fight for the general welfare. The nation-state is not communism, it is our salvation if it is mobilized properly to work with other nation-states.

The thieves at Bear Stearns, etc are bankrupt. They need to be Financially Liquidated!!! They are an investment bank, they are not a chartered bank. We need a bankruptcy reorganization and new credit for FDR style infrastructure.

To put it bluntly: Bush is in La La Land, and Treasury Secretary Henry Paulson is totally fuc#ed up!

Comment by S.L.

March 15th 2008 14:55

The Political Brief

The USA was founded to provide a new start for oppressed people. The Founding Fathers believed that it could succeed differently from Europe. I'm not exactly sure what you mean by "nation state", Howard, but this nation has stood for more than 200 years and done pretty well. Limited government was the key to our previous success as a country. FDR took office during the Depression and did what he thought was best, even though it flew in the face of the Founding Father's intentions. Government grew into a behemoth during his years and hasn't shown any signs of stopping. The Welfare State, socialized everything, pork barrel spending, and high taxes (compliments of Wilsons IRS) are the causes of our problems, not the solution. More laws, higher taxes and tighter government controls won't fix the economy, Howard. They'll destroy it. 80% of the population working for the other 20% to have it easy isn't the way to keep people happy. When the first settlers came, there was no government to support them, they worked for themselves and prospered. It wasn't SELFISHNESS, Howard. It was a matter of survival. Those early pioneers helped their neighbors because it was the right thing to do, not because the government took their money to provide for anything (or anyone) that the Constitution didn't specify.

The government was designed to create laws for the benefit of the citizens, to regulate trade and currency, and to provide a military to protect the nation. It was NOT designed to pay for abortions, welfare, "safety nets", or medicine, any more than it was designed to cover debts for individual citizens. These things are programs and ideas invented by an activist government and Supreme Court who think communism is the best way to rule. They're wrong, Howard. Free people don't want a demanding, intrusive government guiding their every step and limiting their potential. FDR meant well, I'm sure, but he did us no service with his liberal programs and Constitutional violations. We need to get back to the basics and take care of ourselves without government intervention or force.