banks, even many banks, may collapse. The recession may deepen. But the existence of a specific bank is not a sine qua non for having an economy.
On Sat, Oct 4, 2008 at 2:30 PM, Robert Munn <[EMAIL PROTECTED]> wrote: > 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. > > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;207172674;29440083;f Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:272368 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5
