On Sat, Oct 4, 2008 at 11:32 AM, Gruss wrote: > > That's ridiculous. The bailout is for Wall St. > > Nobody has any clue if it'll do anything to any "pinch" or if the > "pinch" would've happened or not. > > The entire basis for the bailout is to keep the banking system from collapsing under the weight of bad securities. You are the one that quoted Cramer, did you actually read what he wrote? The banking system is the economy. Without banks to lend money, economic activity grinds to a halt. If that happens, stocks go down significantly, just like they did during the Great Depression (down 90%), and anyone who was counting on their investments in the market to pay for their retirement would be out of luck.
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